Classical location theory is extended from its least cost approach
to a maximum profit framework in this outstanding collection of
Melvin L. Greenhut's key essays. This extension of classical
location theory changes the analysis used in location economics
from that of pure competition to oligopolistic competition. Using
the analysis which is developed in this volume, locational
interdependencies and, in turn, industrial location are shown to be
affected by, diverse factors, including among others, marginal cost
curves, demand curves and the number of firms in the market.
Employing empirical findings to relate theory to practice, the
author establishes a general theory via which he investigates and
resolves specific issues and problems. These essays make a major
contribution by enabling the reader to appreciate the important
developments that have taken place over recent years in location
economics. Location Economics and its companion volume, Spatial
Microeconomics, will be welcomed by students, teachers and
practitioners of economics for improving access to Professor
Greenhut's many important essays and papers.
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