Concluding Remarks

Abstract

The present study focuses on consumers’ choice among bundles of heterogeneous goods, some of which are location-specific. Several microeconomic and microeconometric models are presented that could form the basis of an empirical analysis of consumers’ location choice. It is argued that spatial choice is equivalent to the individuals’ demand for location-specific goods and is determined by the goods’ technical characteristics as well as those characteristics of the consumers and other potential customers that influence the individuals’ costs of accessing the respective goods. The purchase of goods at locations other than the individuals’ current position implies their demand for transportation, accommodation, and reduces their time at work. Rather than analyzing the individuals’ simultaneous choice of location-specific and all related goods, the present study attempts to investigate the determinants of the individuals’ decision process at an intermediate level and focuses on their choice among mutually exclusive, aggregated commodities.