The Cusp Catastrophe In The Urban Retail Model

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Abstract

In this paper we will show that for a suitable choice of the parameters in an urban retail model as developed by Huff and Lakshmanen and Hansen one finds a cusp catastrophe in the surface of equilibrium points. We give some economic consequences of the fact that we have a cusp catastrophe. Furthermore we show that for other choices of the parameters the equilibrium points of the model depend smoothly on the parameters.

Keywords

ECONOMIC CONSEQUENCES
CUSP CATASTROPHE
SUITABLE CHOICE
RETAIL MODEL
URBAN RETAIL
MODEL DEPEND

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