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Modeling Freight Markets for Coal

  • 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)

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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File URL: http://hdl.handle.net/11250/163960
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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
Contact details of provider: 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
Web page: http://www.nhh.no/en/research-faculty/department-of-business-and-management-science.aspx
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  1. 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.
  2. Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers 11375, Iowa State University, Department of Economics.
  3. 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.
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