IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-01889-5_6.html
   My bibliography  Save this book chapter

The Bid-Price Curve and Market Equilibrium

In: The Economics of Residential Location

Author

Listed:
  • Alan W. Evans

    (Centre for Environmental Studies)

Abstract

The empirical studies in the preceding chapter were, in a sense, a digression from the main thread of the argument; however, they demonstrated the validity of the theories in Chapters 3 and 4 of the demand for, and the supply of, space. In this chapter we bring together these theories to show how demand and supply are equated when the market is in equilibrium. Since space is supplied at every location in the city there is no single market price. We cannot therefore take over, unchanged, the analysis of market equilibrium which is customary in standard microeconomic theory where goods are assumed either to have no locational dimension or to be brought to, and sold at, a market at a particular location. In the case of habitable space in the city the market has to be thought of as a number of interconnected submarkets, each at a different distance from the city centre and each having a different equilibrium price and a different equilibrium quantity traded.

Suggested Citation

  • Alan W. Evans, 1973. "The Bid-Price Curve and Market Equilibrium," Palgrave Macmillan Books, in: The Economics of Residential Location, chapter 6, pages 72-86, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01889-5_6
    DOI: 10.1007/978-1-349-01889-5_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-01889-5_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.