Modeling freight markets for coal
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- Discussion papers (FOR) 
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 nding in the paper is that cost minimizing models provide relative poor ts to data. A simple one parameter gravity model, however, provides very satisfactory ts to observed behaviour.
UtgiverNorwegian School of Economics and Business Administration. Department of Finance and Management Science