Pointwise agglomeration in continuous racetrack model

Ohtake, Kensuke; Yagi, Atsushi

http://hdl.handle.net/10400.5/26209

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Authors

Ohtake, Kensuke

Yagi, Atsushi

Abstract(s)

Using analytical methods they devised, the authors intend to study economic aspects of the racetrack economy described as a continuous-space version of the new economic geography model. The main mathematical conclusions are summarized as follows: 1) Workers and frms agglomerate only to a fnite number of cities, and the maximum number of possible emerging cities reduces as the preference for variety increases or the transport cost decreases. 2) The further apart cities are located from each other, the more stable the city confguration is against the increasing preference for variety or the decreasing of the transport cost.