Engelen, Steve; Meersman, Hilda; Voorde, Eddy Van De - In: Maritime Policy & Management 33 (2006) 2, pp. 141-158
In this paper, we consider the benefits of applying system dynamics in maritime economics. We build an endogenous shipowners’ model for the dry bulk sector, incorporating both the decision process of individual shipowners and traditional shipping market conditions. The aim is to arrive at a...