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Articles by Otazawa, Ohira, van Ommeren

Inter-firm transaction networks and location in a city

July 9, 2019

Who locates in the central position of a city? In Tokyo, major companies, whose sales reach 10% of Japan as a whole, are located in a small central business area called the Otemachi-Marunouchi-Yurakucho district. All over the world, we can observe that regionally influential firms locate themselves in the most central areas of cities.
Spatial proximity facilitates interactions among economic agents. Ever since Marshall (1920) emphasised three different types of transaction costs – the costs of transporting goods, people, and information and ideas, which can be reduced by location proximity – numerous theoretical models have been developed that examine how these spatial externalities influence the location of firms and households, urban density patterns, and productivity. In the

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