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E-grāmata: Shipping Business Unwrapped: Illusion, Bias and Fallacy in the Shipping Business

(Nanyang Technological University, Singapore)
  • Formāts: 140 pages
  • Sērija : Routledge Maritime Masters
  • Izdošanas datums: 05-Sep-2018
  • Izdevniecība: Routledge
  • ISBN-13: 9781351864770
  • Formāts - EPUB+DRM
  • Cena: 46,33 €*
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  • Formāts: 140 pages
  • Sērija : Routledge Maritime Masters
  • Izdošanas datums: 05-Sep-2018
  • Izdevniecība: Routledge
  • ISBN-13: 9781351864770

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The shipping business is lesser known but extremely influential element of the global economy. Most people outside the shipping business know about the historic ship owners and their exotic life stories. However, the shipping business of today is very professional and integrated with many industries. This book provides a snapshot of the shipping business with micro foundations from the perspective of behavioral economics.

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 are certain to enjoy the narrative content and to learn many surprising truths about this fascinating business.

Recenzijas

'In Shipping Business Unwrapped, Dr Duru presents an original and personal interpretation of the practice of shipping business. This volume is not a comprehensive textbook which systematically defines and expounds the technical and theoretical mechanisms that underpin particular phenomena in the shipping industry. Rather, the author attempts to explore institutional and behavioural aspects of shipping business and the human side of shipping. For experienced practitioners, the selective account is refreshing and the critique offered of neo-classical rationality is highly provocative in debunking technical myths and jargon. Instead of offering a textbook of applied behavioural economics, Dr Duru challenges the highly conservative shipping industry with numerous practical suggestions based on high level concepts which could avoid traditional illusions and fallacies. Perhaps the future success of shipping business will depend on its ability to heed them.' Professor John Dinwoodie, Head, Department of International Shipping, Logistics and Operations, Plymouth Business School, Plymouth University, UK

List of illustrations
ix
Introduction 1(4)
1 The fundamentals of shipping economics: perfections, simplifications, and the big picture
5(7)
2 The story of the ton-mile: can we really measure demand or supply in the shipping business?
12(10)
3 Ships vs. assets: fleet vs, portfolio
22(5)
4 Garbage in, gospel out: fallacy and freakonomics of shipping statistics
27(6)
5 Information asymmetry: what you know and what you do not know!
33(4)
6 Emotions: neuroeconomics of the shipping business
37(4)
7 Alliance capitalism: solidarity survives
41(3)
8 Cycles: this time, it's almost the same!
44(5)
9 The anatomy of a shipping crisis: dissection of irrational exuberance
49(7)
10 The shipping mortgage crisis: how ship valuation methods rationalized toxic shipping portfolios and ship covered bonds
56(8)
11 Glaring tycoons: survivorship bias
64(2)
12 The fallacy of `expertise-like': know-whys
66(3)
13 Too big to fail: winner's tragedy
69(3)
14 About the C-level executives: get the incentives right
72(3)
15 Spot vs. period: risk vs. loyalty
75(6)
16 Too small to survive: uniqueness vs. size
81(3)
17 Seafarers and outsourcing: bundle it!
84(2)
18 Dashboard: visualizing shipping metrics
86(5)
19 The age of artificial intelligence: what computational intelligence needs to be
91(6)
20 Lenders' stimulus: even bankers can be misled
97(3)
21 The magic of the discount factor: temporal myopia and hyperbolic discounting
100(3)
22 Credit engineering: misleading habits
103(6)
23 Risk vs. uncertainty: swine flu and shipping
109(7)
Concluding remarks 116(2)
Appendix 118(4)
References 122(4)
Index 126
Okan Duru is Assistant Professor of Maritime Studies at Nanyang Technological University, Singapore. His major research interests are maritime economics, computational intelligence for shipping economics, economic pluralism, maritime policies, shipping investment and finance. He received his PhD, on the Long-term Econometric Analysis of Dry Bulk Shipping, at the Graduate School of Maritime Sciences, Kobe University. He has published in various journals and conferences proceedings, in addition to reviewing and editing papers.