This exercise translates the observed food truck movements into information on the relative number of customers a truck serves at each location on a given day. I pulled 34,328 parking records from Violette’s website and created a simulation of how food trucks park. Since 2011, Andrew Violette, who runs, has been tracking the city’s food trucks based on their Twitter feeds. Thankfully, there is plenty of data because food trucks need to advertise their locations. Modeling food truck parking locations is complex, as there are around 70 active food trucks parking at more than 30 locations in Chicago. The parking patterns of food trucks suggest an expanded model that incorporates additional influences: how consumers vary their lunch options, and also how they may develop, and then may lose the habit of patronizing a food truck. However, the law doesn’t explain why food trucks choose different parking locations on different days. His law explains why food trucks park right next to each other rather than spreading out along a block or across several city blocks.
Thus, Hotelling found that competition will lead vendors to congregate in the center. Knowing this, the vendors should both choose to locate at the middle of the beach in order to maximize their respective market shares and profit. The vendor on the left will serve all the beachgoers to its left, and the vendor on the right will serve all the beachgoers to its right. Assuming the venders offer roughly the same treats, beachgoers will naturally choose to walk to the closest cart. Consider two ice cream vendors who parked their carts on a one-mile stretch of beach. The classic location choice model was offered by the mathematician and economist Harold Hotelling in 1929. Where you choose to locate a business is a fundamental economic question-one that food trucks must re-answer every day. After several good meals at the food trucks on Ellis Avenue, and observing the variation in the trucks parked each day, I started thinking about how the trucks decide where to park.
So I was thrilled to see a crêpe truck, Paris Ouh La La, serving lunch during the school year. Pursuing a love of food and cooking, I completed the basic pastry certificate at Le Cordon Bleu in Paris the summer before starting the PhD program. Management Science and Operations ManagementĬontact Employer Relations and Corporate Relations MBA Master of Arts in Middle Eastern Studies
MBA Master of Arts in International Relations MBA MA Eastern European Russian Eurasian Studies The University of Chicago Booth School of Business
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