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A dynamic disequilibrium interregional commodity flow model

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  • Friesz, Terry L.
  • Suo, Zhong-Gui
  • Bernstein, David H.

Abstract

We are concerned in this paper with creating a dynamic description of interregional commodity movements which has steady states consistent with the traditional Samuelson-Takayama-Judge (STJ) static spatial price equilibrium model. This is accomplished by introducing a disequilibrium adjustment mechanism which differs from that of other network spatial price tatonnement models in that prices and interregional flows follow distinct signals, and constraints ensuring balanced trade flows are not enforced prior to attaining an equilibrium. The disequilibria arising from our relaxation of the flow balance constraints are seen to provide a foundation for describing failures of spatial markets to clear. Also notable among the features of our model is its treatment of a general network topology and non-separable cost, supply and demand functions. We show through numerical experiments that the proposed adjustment process is seen to hold promise as means of calculating static spatial price equilibria. Furthermore, we discuss the circumstances under which disequilibrium states visited by the adjustment process describe actual time-varying commodity flows and prices, allowing the model to be used for predictive dynamic interregional freight modeling.

Suggested Citation

  • Friesz, Terry L. & Suo, Zhong-Gui & Bernstein, David H., 1998. "A dynamic disequilibrium interregional commodity flow model," Transportation Research Part B: Methodological, Elsevier, vol. 32(7), pages 467-483, September.
    • Handle: RePEc:eee:transb:v:32:y:1998:i:7:p:467-483
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    References listed on IDEAS

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    1. Harker, Patrick T. & Friesz, Terry L., 1986. "Prediction of intercity freight flows, II: Mathematical formulations," Transportation Research Part B: Methodological, Elsevier, vol. 20(2), pages 155-174, April.
    2. Terry L. Friesz & David Bernstein & Roger Stough, 1996. "Dynamic Systems, Variational Inequalities and Control Theoretic Models for Predicting Time-Varying Urban Network Flows," Transportation Science, INFORMS, vol. 30(1), pages 14-31, February.
    3. Teodor Gabriel Crainic & Michael Florian & José-Eugenio Léal, 1990. "A Model for the Strategic Planning of National Freight Transportation by Rail," Transportation Science, INFORMS, vol. 24(1), pages 1-24, February.
    4. Harker, Patrick T. & Friesz, Terry L., 1986. "Prediction of intercity freight flows, I: Theory," Transportation Research Part B: Methodological, Elsevier, vol. 20(2), pages 139-153, April.
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    Cited by:

    1. Zhang, Pengcheng & Peeta, Srinivas, 2014. "Dynamic and disequilibrium analysis of interdependent infrastructure systems," Transportation Research Part B: Methodological, Elsevier, vol. 67(C), pages 357-381.

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