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Modeling Geographic Ferrous Scrap Markets: Regional Prices and Interregional Transactions in the United States

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  • Gene Gruver
  • Frank Giarratani

Abstract

. The U.S. Regional Ferrous Scrap Model analyzes spatial variations in prices for two grades of ferrous scrap using a logistic model of choice under differentiated products. The model uses a computer‐generated equilibrium framework to solve for prices that support the observed spatial distribution of supply and demand quantities. This paper presents the model's formal structure and its solution algorithm. The model specification is highly disaggregated with 1,212 supply and 240 demand regions. Characteristics of the equilibrium solution are described for prices and interregional flows. Sensitivity of equilibrium values to changes in model parameters is reported.

Suggested Citation

  • Gene Gruver & Frank Giarratani, 2005. "Modeling Geographic Ferrous Scrap Markets: Regional Prices and Interregional Transactions in the United States," Journal of Regional Science, Wiley Blackwell, vol. 45(2), pages 313-341, May.
    • Handle: RePEc:bla:jregsc:v:45:y:2005:i:2:p:313-341
    DOI: 10.1111/j.0022-4146.2005.00373.x
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    Cited by:

    1. Tatiana Ivanova & Violetta Trofimova & Alexandr Kalitaev & Dmitry Stepanov, 2018. "Mathematical Modelling of the Price Range in the Procurement of Ferrous Scrap by Metallurgical Enterprises," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 137-149.
    2. Daniel T. Kaffine, 2014. "Scrap Prices, Waste, and Recycling Policy," Land Economics, University of Wisconsin Press, vol. 90(1), pages 169-180.
    3. Frank Giarratani & Ravi Madhavan & Gene Gruver, 2013. "Steel industry restructuring and location," Chapters, in: Frank Giarratani & Geoffrey J.D. Hewings & Philip McCann (ed.), Handbook of Industry Studies and Economic Geography, chapter 1, pages 11-37, Edward Elgar Publishing.

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