Recent Submissions

  • Hedging ship price risk using freight derivatives in the drybulk market 

    Ådland, Roar Os; Ameln, Haakon; Børnes, Eirik A. (Journal article; Peer reviewed, 2019)
    We show that a fixed-maturity time-weighted Forward Freight Agreement (FFA) portfolio should be used to proxy the expected future earnings of a vessel. We investigate the corresponding hedging efficiency when using a ...
  • Handling financial risks in crude oil imports: Taking into account crude oil prices as well as country and transportation risks 

    Wang, Shuang; Wallace, Stein William; Lu, Jing; Gu, Yewen (Journal article; Peer reviewed, 2019)
    Financial risks related to crude oil imports are certainly affected by crude oil price uncertainty. Our question is: How important is it to take also physical risks, such as the crude oil exporters’ political risks and ...
  • Problem-driven scenario generation: an analytical approach for stochastic programs with tail risk measure 

    Fairbrother, Jamie; Turner, Amanda; Wallace, Stein William (Journal article; Peer reviewed, 2019)
    Scenario generation is the construction of a discrete random vector to represent parameters of uncertain values in a stochastic program. Most approaches to scenario generation are distribution-driven, that is, they attempt ...
  • On the approximation of Lévy driven Volterra processes and their integrals 

    Di Nunno, Giulia; Fiacco, Andrea; Karlsen, Erik Hove (Journal article; Peer reviewed, 2019)
    Volterra processes appear in several applications ranging from turbulence to energy finance where they are used in the modelling of e.g.temperatures and wind and the related financial derivatives. Volterra processes are ...
  • When energy efficiency is secondary: The case of Offshore Support Vessels 

    Ådland, Roar Os; Cariou, Pierre; Wolff, Francois-Charles (Journal article; Peer reviewed, 2019)
    Offshore Support Vessels (OSVs) deal with time-sensitive logistics and sophisticated marine operations for high-value offshore oil and gas installations. We investigate whether this creates preferences that effectively ...
  • Tax-free digital news? 

    Foros, Øystein; Kind, Hans Jarle; Wyndham, Timothy G.A. (Journal article; Peer reviewed, 2019)
    News platforms are struggling. Their printed readership is predominantly old, and their digital product struggles to win the attention of the young. For several decades tax reductions have been used in Europe to increase ...
  • The Need to Amend IMO’s EEDI to Include a Threshold for Performance in Waves (Realistic Sea Conditions) to Achieve the Desired GHG Reductions 

    Lindstad, Elizabeth; Borgen, Henning; Eskeland, Gunnar; Paalson, Christopher; Psaraftis, Harialos; Turan, Osman (Peer reviewed; Journal article, 2019)
    The International Maritime Organization (IMO) has established the Energy Efficiency Design Index (EEDI) as the most important policy measure to reduce greenhouse gas (GHG) emissions from shipping. A vessel’s EEDI is based ...
  • Internasjonal skatteplanlegging – er åpenhet en utopi? 

    Anker-Sørensen, Linn; Schjelderup, Guttorm (Peer reviewed; Journal article, 2018)
    Skatteparadis, aggressiv skatteplanlegging og rettslige hybrider er komplekse fenomener som blant annet brukes av multinasjonale selskaper for å unndra og minimere skatt. Disse selskapenes komplekse selskapsstrukturer og ...
  • Economies of scale in Norwegian electricity distribution: a quantile regression approach 

    Mydland, Ørjan; Haugom, Erik; Lien, Gudbrand (Journal article; Peer reviewed, 2018)
  • A Likelihood Ratio and Markov Chain Based Method to Evaluate Density Forecasting 

    Li, Yushu; Andersson, Lars Jonas (Journal article; Peer reviewed, 2019)
    In this paper, we propose a likelihood ratio based method to evaluate density forecasts which can jointly evaluate the unconditional forecasted distribution and dependence of the outcomes. Unlike the well‐known Berkowitz ...
  • An analysis of maintenance schedules for public facilities 

    Hopland, Arnt Ove; Kvamsdal, Sturla F; Sandal, Leif Kristoffer (Journal article; Peer reviewed, 2019)
    We present a flexible, formal framework for maintenance scheduling for public facilities. Key features of the model include an accelerating deterioration scheme, a general utility measure, and real estate market effects ...
  • Predators in the market: implications of market interaction on optimal resource management 

    Steinshamn, Stein Ivar (Journal article; Peer reviewed, 2017)
    A two-species bioeconomic model is analyzed, but in contrast to most similar models, there is no biological interaction between the species, only economic. The interaction takes place in the market where the quantity of ...
  • Relational Contracts, Multiple Agents, and Correlated Outputs 

    Kvaløy, Ola; Olsen, Trond Egil (Journal article; Peer reviewed, 2019)
    We analyze relational contracts between a principal and a set of risk-neutral agents whose outputs are correlated. When only the agents’ aggregate output can be observed, a team incentive scheme is shown to be optimal, ...
  • Utskjelt bonuslønn fortsatt utbredt - fordi den virker? 

    Bragelien, Iver (Peer reviewed; Journal article, 2018)
    En litteraturgjennomgang viser at det i snitt er en positiv sammenheng mellom belønninger og prestasjoner. Norske bedriftsledere opptrer i tråd med dette. Rundt halvparten av alle ansatte i de største bedriftene har ...
  • Incitements for transportation collaboration by cost allocation 

    Dahlberg, Joen; Engevall, Stefan; Göthe-Lundgren, Maud; Jørnsten, Kurt; Rönnqvist, Mikael (Journal article; Peer reviewed, 2018)
    In this paper, we focus on how cost allocation can be used as a means to create incentives for collaboration among companies, with the aim of reducing the total transportation cost. The collaboration is assumed to be ...
  • The economic impact of multiple sclerosis to the patients and their families in Norway 

    Svendsen, Bjørn; Grytten, Nina; Bø, Lars; Aarseth, Hallvard Gilje; Smedal, Tori; Myhr, Kjell-Morten (Journal article; Peer reviewed, 2018)
    Background Multiple sclerosis (MS) imposes high economic costs on society, but the patients and their families have to bear some of these costs. Objective We aimed to estimate the magnitude of these economic costs in ...
  • The impact of design uncertainty in engineer-to-order project planning 

    Vaagen, Hajnalka; Kaut, Michal; Wallace, Stein W. (Peer reviewed; Journal article, 2017)
    A major driver of planning complexity in engineer-to-order (ETO) projects is design uncertainty far into the engineering and production processes. This leads to uncertainty in technical information and will typically lead ...
  • Does fuel efficiency pay? Empirical evidence from the drybulk timecharter market revisited 

    Ådland, Roar Os; Alger, Harrison Marshall; Banyte, Justina; Jia, Haiying (Journal article; Peer reviewed, 2017)
    The time charter market for ships represents a classical example of the principal-agent problem, where shipowners can opt to invest in energy efficient ships, yet any savings in fuel expenditures accrue to the charterers. ...
  • Are AIS-based trade volume estimates reliable? The case of crude oil exports 

    Ådland, Roar Os; Jia, Haiying; Strandenes, Siri Pettersen (Peer reviewed; Journal article, 2017)
    Most global trade statistics in the public domain refer to official customs data, which are not generally available on a micro (individual cargo) level. With the increasing availability and completeness of ship positioning ...
  • Simulating physical basis risks in the Capesize freight market 

    Ådland, Roar Os; Jia, Haiying (Peer reviewed; Journal article, 2017)
    The purpose of this paper is to evaluate the characteristics of the time-varying differential between the Baltic global trip-charter average and simulated earnings from a fleet of Capesize vessels. We interpret the standard ...

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