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Modeling Freight Markets for Coal

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Author Info

  • Andersson, Jonas

    ()
    (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Jörnsten, Kurt

    ()
    (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Strandenes, Siri Pettersen

    ()
    (Dept. of Economics, Norwegian School of Economics and Business Administration)

  • Ubøe, Jan

    ()
    (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

Abstract

In this paper we study bulk shipping of coal between the central regions in the world. We compare the performance of cost-minimizing models with a gravity model approach. The main finding in the paper is that cost minimizing models provide relative poor fits to data. A simple one parameter gravity model, however, provides very satisfactory fits to observed behaviour.

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Bibliographic Info

Paper provided by Department of Business and Management Science, Norwegian School of Economics in its series Discussion Papers with number 2008/26.

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Length: 13 pages
Date of creation: 10 Feb 2009
Date of revision:
Handle: RePEc:hhs:nhhfms:2008_026

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Postal: NHH, Department of Business and Management Science, Helleveien 30, N-5045 Bergen, Norway
Phone: +47 55 95 92 93
Fax: +47 55 95 96 50
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Web page: http://www.nhh.no/en/research-faculty/department-of-business-and-management-science.aspx
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Related research

Keywords: Bulk freight; cost efficiency; gravity modeling;

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  1. Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers 11375, Iowa State University, Department of Economics.
  2. Anas, Alex, 1983. "Discrete choice theory, information theory and the multinomial logit and gravity models," Transportation Research Part B: Methodological, Elsevier, vol. 17(1), pages 13-23, February.
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Cited by:
  1. Katarzyna Kopczewska, 2013. "Roads as Channels of Centrifugal Policy Transfer: A Spatial Interaction Model Revised," Contemporary Economics, University of Finance and Management in Warsaw, vol. 7(3), October.

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