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Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
The reference location is usually a major industrial location closest to the location where the index is being determined. Location factors for various locations have been published and updated in various journals as in Aspen Richardson's "International Construction Cost Factor Location Manual (2003)".
In economics, the economics of location is the study of strategies used by firms and retails in a monopolistically competitive environment in determining where to locate. [1] Unlike a product differentiation strategy, where firms make their products different in order to attract customers, an economics of location strategy is consistent with ...
Economic geography is the subfield of human geography that studies economic activity and factors affecting it. ... often concentrate on industrial location and employ ...
In his book "The Location of Economic Activity", Hoover compiled crucial criteria of industrial site selection as early as 1948 that still apply today. There were, however, some quite early attempts to combine theories of international trade with nationally oriented site theories in order to develop a site theory with an international perspective.
Industrial inertia (geographical) describes a stage at which an industry prefers to run in its former location although the main alluring factors are gone. For example, the raw material source is depleted or an energy crisis has emerged.
In economics, a location model or spatial model refers to any monopolistic competition model that demonstrates consumer preference for particular brands of goods and their locations. Examples of location models include Hotelling 's Location Model, Salop 's Circle Model, and hybrid variations.
The study of facility location problems (FLP), also known as location analysis, is a branch of operations research and computational geometry concerned with the optimal placement of facilities to minimize transportation costs while considering factors like avoiding placing hazardous materials near housing, and competitors' facilities.