A MANAGERIAL MODEL OF THE EFFECT OF PRODUCT MARKET STRUCTURE ON FIRM LOCATION*
构建了一个基于经理人理论的选址模型，假设企业管理者最大化包含利润和区位偏好的效用函数，并受市场约束，分析了产品市场结构变化对选址决策的影响。
ABSTRACT. This paper develops a model of firm location choice based on managerial theory of discretionary behavior. Specifically, it is assumed that the management of the firm maximizes a utility function which incorporates profits and location‐specific amenities. As the firm moves from one prospective location to another, it faces a profit‐amenity constraint imposed by market conditions. The optimal location decision is derived by maximizing the utility function subject to this market‐imposed constraint. After examining the properties of the optimal solution, the impact of various changes in product market structure (including changes from a contestible markets perspective) on the location decision is investigated. A major finding is that the impact of a change in market structure depends upon the nature of the structure change and upon the substitution and income effects induced by the structural change.