Agent-Based Model of an Urban Retail Market

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F11%3A00074565" target="_blank" >RIV/00216224:14560/11:00074565 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Agent-Based Model of an Urban Retail Market
Original language description
The paper presents an agent-based model of an urban retail market that explains the stylized facts about the location of shops in Brno/CZ. More specifically, it explains why some types of shops are more dominant in the center, some in the inner city, andsome in the periphery of the city. In the model, consumers spend their incomes in different types of shops located randomly in a square city. The types of products sold in the shops differ in the transportation costs and in the proportion of the incomespent on them. The consumers buy each type of product in the shops with the lowest price plus the per-unit transportation cost. The price of each good is determined by the profit margin assigned randomly to each shop. In each period, new shops of all types enter the market and locate randomly in the city, and some of the shops in loss exit the market. This way the urban retail market evolves toward an optimal structure; i.e. toward the optimal prices, sizes, and locations of shops.
Czech name
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Czech description
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Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 29th International Conference Mathematical Methods in Economics 2011
ISBN
9788074310584
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
369-374
Publisher name
University of Economics, Faculty of Informatics and Statistics
Place of publication
Prague
Event location
Janská Dolina, Slovensko
Event date
Sep 6, 2011
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000309074600062

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