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Study on Applications of Supply and Demand Theory of Microeconomics and Physics Field Theory to Central Place Theory

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  • Nien, Benjamin Chih-Chien

Abstract

This paper attempts to analyze “central place theory” of spatial economics based on “supply and demand theory” in microeconomics and “field theory” in physics, and also discuss their relationship. Three most important research findings are described below. Firstly, the concept of market equilibrium could be expressed in the mathematical form of physics field theory under proper hypothesis. That is because the most important aspect of field theory model is that complex analysis is taken as a key mathematical tool. If assuming that “imaginary part” is neglected in this model, it is found that this model has the same mathematical structure as supply and demand theory of microeconomics. Secondly, the mathematical model of field theory can be applied to express clearly many concepts of central place theory, or even introduce many new concepts. Thirdly, it could also be taken as a study of combining the Hotelling Model and Moses Model for the location theory in another mathematic approach.

Suggested Citation

  • Nien, Benjamin Chih-Chien, 2006. "Study on Applications of Supply and Demand Theory of Microeconomics and Physics Field Theory to Central Place Theory," MPRA Paper 390, University Library of Munich, Germany, revised 10 Oct 2006.
    • Handle: RePEc:pra:mprapa:390
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    File URL: https://mpra.ub.uni-muenchen.de/390/1/MPRA_paper_390.pdf
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    References listed on IDEAS

    as
    1. Leon N. Moses, 1958. "Location and the Theory of Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 72(2), pages 259-272.
    2. Matthew Martin, 1997. "Introduction," African Development Review, African Development Bank, vol. 9(1), pages 1-19.
    3. Eaton, B Curtis & Lipsey, Richard G, 1982. "An Economic Theory of Central Places," Economic Journal, Royal Economic Society, vol. 92(365), pages 56-72, March.
    4. Tönu Puu, 1997. "Mathematical Location and Land Use Theory," Advances in Spatial Science, Springer, number 978-3-662-03439-2.
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    More about this item

    Keywords

    Mathematical Economics; Economic Geography; Microeconomics;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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