Spatial price equilibrium on congested networks |
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| Institution: | 1. Department of Operations and Information Management, Isenberg School of Management, University of Massachusetts, Amherst, MA 01003, United States;2. Department of Marketing and Management, School of Business, State University of New York, Oswego, NY 13126, United States |
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| Abstract: | A new price formulation of the spatial price equilibrium model for congested networks is presented which allows for situations in which equilibrium between producers and consumers within a region may not be achieved. It also leads to a variational inequality in link flow without requiring that each network node be a market. Existence and uniqueness results are given and a solution algorithm is suggested. |
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