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Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
In economics, a location model or spatial model refers to any monopolistic competition model that demonstrates consumer preference for particular brands of goods and their locations. Examples of location models include Hotelling 's Location Model, Salop 's Circle Model, and hybrid variations.
Central place theory is an urban geographical theory that seeks to explain the number, size and range of market services in a commercial system or human settlements in a residential system. [1] It was introduced in 1933 to explain the spatial distribution of cities across the landscape. [ 2 ]
Economic geography takes a variety of approaches to many different topics, including the location of industries, economies of agglomeration (also known as "linkages"), transportation, international trade, development, real estate, gentrification, ethnic economies, gendered economies, core-periphery theory, the economics of urban form, the ...
Location theory includes a number of theories and techniques for determining the optimal location to site a particular activity, based on minimizing travel costs. Notable examples include the classical early 20th Century theories of Johann Heinrich von Thünen, Walter Christaller, and Alfred Weber, and GIS-era algorithms for Location-allocation.
Atomic Power, an Economic and Social Analysis; a Study in Industrial Location and Regional Economic Development. New York: Blakiston. Isard, Walter. 1956. Location and Space-economy; a General Theory Relating to Industrial Location, Market Areas, Land Use, Trade, and Urban Structure.
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In geometry, the Weber problem, named after Alfred Weber, is one of the most famous problems in location theory.It requires finding a point in the plane that minimizes the sum of the transportation costs from this point to n destination points, where different destination points are associated with different costs per unit distance.