“Why are all the gas stations, cafes and restaurants in one crowded spot? As two competitive cousins vie for ice-cream-selling domination on one small beach, discover how game theory and the Nash Equilibrium inform these retail hotspots.”

Source: www.youtube.com

This TED-ED lesson shows the economic and spatial factors that lead to businesses to cluster together.  This video is a very simple introduction to the concept of agglomeration that is based on competition.

 

Tags: APHG, TED, models, spatial, K12, location.

Advertisements