Related papers: Modelling Global Trade with Optimal Transport
Freight transportation marketplace rates are typically challenging to forecast accurately. In this work, we have developed a novel statistical technique based on signature transforms and have built a predictive and adaptive model to…
It is well-accepted that the ability to go from one place to another, or mobility, contributes significantly to one's wellbeing. The need for mobility is universal, but the demand for mobility shows a great variation on a country basis.…
The movements of individuals within and among cities influence critical aspects of our society, such as well-being, the spreading of epidemics, and the quality of the environment. When information about mobility flows is not available for a…
We develop a theory for the market impact of large trading orders, which we call metaorders because they are typically split into small pieces and executed incrementally. Market impact is empirically observed to be a concave function of…
It is common wisdom that no nation is an isolated economic island. All nations participate in the global economy and are linked together through trade and finance. Here we analyze international trade network (ITN), being the network of…
We introduce an agent-based model, in which agents set their prices to maximize profit. At steady state the market self-organizes into three groups: excess producers, consumers and balanced agents, with prices determined by their own…
We interpret multi-product supply chains (SCs) as coordinated markets; under this interpretation, a SC optimization problem is a market clearing problem that allocates resources and associated economic values (prices) to different…
The dynamics of financial markets are driven by the interactions between participants, as well as the trading mechanisms and regulatory frameworks that govern these interactions. Decision-makers would rather not ignore the impact of other…
Extreme economic outcomes are not shaped by tails alone. They are also shaped by unequal access to opportunities. This paper develops a theory of heterogeneous extremes by taking the distribution of opportunity access as the object of…
Studies built on dependency and world-system theory using network approaches have shown that international trade is structured into clusters of 'core' and 'peripheral' countries performing distinct functions. However, few have used these…
Modeling distributions that depend on external control parameters is a common scenario in diverse applications like molecular simulations, where system properties like temperature affect molecular configurations. Despite the relevance of…
Over the past few years, the futures market has been successfully developing in the North-West region. Futures markets are one of the most effective and liquid-visible trading mechanisms. A large number of buyers are forced to compete with…
Intellectual property (IP) rules have the potential to shape cross-border trade far more than their legalistic origins might suggest. Drawing on three decades of evidence, this review shows that stronger IP rights simultaneously create…
This study investigates an adaptive pricing scheme aimed at achieving an efficient state in a traffic congestion game characterized by a diverse population of road users. While the planner possesses knowledge of players' preferences, their…
The global markets provide enterprises with selling opportunities and challenges in stabilizing operational strategies. From the perspective of production management, it is important to improve the profitability of an enterprise by…
We have studied here the self-organising features of the dynamics of a model market, where the agents `trade' for a single commodity with their money. The model market consists of fixed numbers of economic agents, money supply and…
Large scale electricity storage is set to play an increasingly important role in the management of future energy networks. A major aspect of the economics of such projects is captured in arbitrage, i.e. buying electricity when it is cheap…
Trade agreements are often understood as shielding commerce from fluctuations in political relations. This paper provides evidence that World Trade Organization membership reduces the penalty of political distance on trade at the extensive…
We present an empirical analysis of the network formed by the trade relationships between all world countries, or World Trade Web (WTW). Each (directed) link is weighted by the amount of wealth flowing between two countries, and each…
Sustainable road freight transport becomes indispensable in the field of transportation and logistics. The new technological change, the environmental impacts, and social responsibility laid freight road transport in front of various…