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Spatial Interaction, Imperfect Competition and the Evaluation of User Benefit

Morphet, R; (2015) Spatial Interaction, Imperfect Competition and the Evaluation of User Benefit. (CASA Working Paper 199). The Bartlett Centre for Advanced Spatial Analysis, UCL (University College London): London, UK. Green open access

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Abstract

The spatial interaction model as represented by the entropy maximising trip distribution model is located in economic theory as a model that represents imperfect competition. In doing so it minimises the consumer deadweight loss associated with imperfect competition although it never eliminates it. The evaluation of benefits under imperfect competition is shown to require the inclusion of changes in land rent but is otherwise similar to the standard cost benefit analysis. A worked example suggests that the inclusion of rents and a correction for double counting results in lower estimates of benefit than obtain when only trip costs are measured.

Type: Working / discussion paper
Title: Spatial Interaction, Imperfect Competition and the Evaluation of User Benefit
Open access status: An open access version is available from UCL Discovery
Publisher version: https://www.ucl.ac.uk/bartlett/casa/case-studies/2...
Language: English
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Centre for Advanced Spatial Analysis
URI: https://discovery.ucl.ac.uk/id/eprint/1469268
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