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Urban economics - Essay Example

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College
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Macro & Microeconomics
Pages 3 (753 words)

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Right from the time human beings have started inhabiting in the caves, they have been analyzing the effectiveness of various locational decisions. It includes factories, retail outlets, warehouses, hospitals, bus stops, educational institutes, automobile stations; just to name a few of them. …

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Urban economics

Right from the time human beings have started inhabiting in the caves, they have been analyzing the effectiveness of various locational decisions. It includes factories, retail outlets, warehouses, hospitals, bus stops, educational institutes, automobile stations; just to name a few of them. This ubiquity of locational designing has led to the interest of many in locational analysis. P-median model is the most popular and most widely used location-allocation models. (John Current, Mark Daskin and David Schilling, n.d.)The idea of conditional location problem is to locate the p amount of facilities in order to serve a particular set of demand points, assuming that q facilities are already located. When q tends to zero, there is unconditional problem. In case of conditional p-median or p-center problems, once the new p locations are determined, demand can either be served by the existing facilities or the new facilities, depending on the facility that is in high demand. P-median along with p-center are the most common used models in the locational analysis. Each application to the p-median or p-center problems turns to the conditional model, when there are already existing facilities in the given area. As for example, if anybody wishes to locate p number of warehouses in a particular area, it is denoted as an unconditional p-median problem. ...
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