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 behaviour.
|Date of creation:||10 Feb 2009|
|Date of revision:|
|Contact details of provider:|| Postal: NHH, Department of Business and Management Science, Helleveien 30, N-5045 Bergen, Norway|
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Web page: http://www.nhh.no/en/research-faculty/department-of-business-and-management-science.aspx
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- Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers Archive 11375, Iowa State University, Department of Economics.
- Daniel C. Knudsen & A. Stewart Fotheringham, 1986. "Matrix Comparison, Goodness-of-Fit, and Spatial Interaction Modeling," International Regional Science Review, SAGE Publishing, vol. 10(2), pages 127-147, August.
- 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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