“Spatial choice models originally started by thinking about geographic choice. There’s a guy named Harold Hoteling who’s an economist who thought about, imagine you’re on a beach and there’s an ice cream vendor, you know, 50 feet to your left and there’s another ice cream vendor 40 feet to your right. You made decide well, you know, since the one to my right is closer what I’ll do is I’ll go and, you know, buy my ice cream from the one that’s closer and I don’t have to walk as far. Well you can take that idea and you can apply it to attributes of a good.” – Transcript from Scott Page Coursera
Source:
Scott Page Model Thinking MOOC Course
