| Description |
1 online resource : illustrations (black and white) |
| Series |
Routledge maritime masters ; 5 |
| Contents |
Cover; Half Title; Title Page; Copyright Page; Dedication; Table of Contents; List of illustrations; Introduction; Notes; 1. The fundamentals of shipping economics: perfections, simplifications, and the big picture; Dynamics of demand; Dynamics of supply; Shipping markets; Models of shipping markets and the hidden forces behind our decisions; 2. The story of the ton-mile: can we really measure demand or supply in the shipping business?; Supply and demand for shipping services: measurement debate; History of the 'ton-mile' and its rationale; Challenges of the ton-mile metric |
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Adoption of the ton-mile metric in maritime economicsNotes; 3. Ships vs. assets: fleet vs. portfolio; Market for lemons and ships; Portfolio; Non-asset-based investors; 4. Garbage in, gospel out: fallacy and freakonomics of shipping statistics; Fixtures; New building contracts; Investment appraisal; 5. Information asymmetry: what you know and what you do not know!; Motives of the directors; Asset play; Fear professional advice; Seminars, workshops, and courses; 6. Emotions: neuroeconomics of the shipping business; Dopamine addiction = risk-seeking; Priming effect and neuromarketing |
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Rational actors, emotions, and blinkNote; 7. Alliance capitalism: solidarity survives; Japan as a product of the shipping business; Keiretsu: the network of shareholders; Empathy; Note; 8. Cycles: this time, it's almost the same!; Cycle of cycles; Notes; 9. The anatomy of a shipping crisis: dissection of irrational exuberance; The global link; Loans; Bullwhip effect; Drunk with the dreams of asset play; Shipping casino vs. hedging the risk; The wisdom of crowds; 10. The shipping mortgage crisis: how ship valuation methods rationalized toxic shipping portfolios and ship covered bonds |
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The mortgage loan system and subprime mortgage meltdownLiquidity trap and the ship mortgage crisis; Note; 11. Glaring tycoons: survivorship bias; Hidden data of failures; Luck or good positioning?; 12. The fallacy of 'expertise-like': know-whys; Shipping consultant; When dealing with an expert; 13. Too big to fail: winner's tragedy; The nature of shipowners; Winner's tragedy; 14. About the C-level executives: get the incentives right; Our language, our incentives; The CEO as a shareholder; 15. Spot vs. period: risk vs. loyalty; The risk lover; The risk reducer; Empathy: compromising |
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Don't wait for the turning point16. Too small to survive: uniqueness vs. size; Scope and scale; Great portfolio; What is your optimal size?; 17. Seafarers and outsourcing: bundle it!; Third-party management; 18. Dashboard: visualizing shipping metrics; Snapshot; Priority and scope; 19. The age of artificial intelligence: what computational intelligence needs to be; Good and bad uses of machine learning; How to spot a liar in predictive analytics?; Notes; 20. Lenders' stimulus: even bankers can be misled; Shipping finance; Stimulus |
| Summary |
The shipping business is a lesser-known industry, but it is an extremely influential element in the global economy. This book provides a snapshot of the shipping business with micro-foundations from the perspectives of institutional and behavioural economics while uncovering hidden facts about the industry. Rather than spending a great deal of time reading many books or consulting costly advisors about fundamental issues, readers can quickly and easily find core concepts examined from multiple perspectives. They will certainly enjoy the engaging, narrative-driven content and learn many surprising truths about this fascinating business |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Introduction 1. The Fundamentals of Shipping Economics: Perfections, Simplifications, and the Big Picture 2. The Story of Ton-Mile: Can We Really Measure Demand or Supply in the Shipping Business? 3. Ships vs. Assets: Fleet vs. Portfolio 4. Garbage In, Gospel Out: Fallacy and Freakonomics of Shipping Statistics 5. Information Asymmetry: What You Know and What You Do Not Know! 6. Emotions: Neuroeconomics of the Shipping Business 7. Alliance Capitalism: Solidarity Survives 8. Cycles: This Time, It's Almost the Same! 9. The Anatomy of a Shipping Crisis: Dissection of Irrational Exuberance 10. The Shipping Mortgage Crisis: How Ship Valuation Methods Rationalized Toxic Shipping Portfolios and Ship Covered Bonds 11. Glaring Tycoons: Survivorship Bias 12. The Fallacy of 'Expertise-like': Know-Whys 13. Too Big to Fail: Winner's Tragedy 14. About the C-Level Executives: Get the Incentives Right 15. Spot vs. Period: Risk vs. Loyalty 16. Too Small to Survive: Uniqueness vs. Size 17. Seafarers and Outsourcing: Bundle It! 18. Dashboard: Visualizing Shipping Metrics 19. The Age of Artificial Intelligence: What Computational Intelligence Needs to be 20. Lenders' Stimulus: Even Bankers Can be Misled 21. The Magic of the Discount Factor: Temporal Myopia and Hyperbolic Discounting 22. Credit Engineering: Misleading Habits 23. Risk vs. Uncertainty: Swine Flu and Shipping Concluding Remarks |
| Subject |
Shipping.
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Asia shipping.
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Asia shipping lines.
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Maritime industry.
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Maritime services.
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Shipping business.
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Shipping routes.
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Shipping
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| Form |
Electronic book
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| ISBN |
9781351864770 |
|
1351864777 |
|
9781351864787 |
|
1351864785 |
|
9781351864763 |
|
1351864769 |
|
9781315231341 |
|
1315231344 |
|
