英译中,自己翻的来!
1.Hotelling's Model
Suppose that two owners of refreshment stands,George and Henry,are trying to decide where to locate along a stretch of beach.Suppose further that there are 100 customers located at even intervals along this beach,and that a customer will buy only from the closest vendor.Finally,assume that the beach is short enough so that total sales are independent of where the vendors locate.
Suppose that initially the vendors locate at points A and C in the illustration below.These locations would minimize the average traveling costs of the buyers and would result in each vendor getting one half of the business.However,this solution would not be an equilibrium.If George moved from point A to point B,he would keep all customers to his left,and get some of Henry's customers.For similar reasons,Henry would move toward the center,and in equilibrium,both vendors would locate together in the middle.