Modeling freight markets for coal
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 behavior. Maritime Economics & Logistics (2009) 11, 289–301. doi:10.1057/mel.2009.10
Volume (Year): 11 (2009)
Issue (Month): 3 (September)
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- Daniel C. Knudsen & A. Stewart Fotheringham, 1986. "Matrix Comparison, Goodness-of-Fit, and Spatial Interaction Modeling," International Regional Science Review, , vol. 10(2), pages 127-147, August.
- Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers Archive 11375, Iowa State University, Department of Economics.
- 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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