New Building Prices: Demand Inelastic or Perfectly Competitive?

George Dikos ()
Additional contact information
George Dikos: Eugenides Group, Greece.

Maritime Economics & Logistics, 2004, vol. 6, issue 4, 312-321

Abstract: Since the pioneering work of Zannetos in maritime economics, it has been well understood that prices of new vessels are non-stabilising. In the earlier literature, most of this behaviour has been attributed to market imperfections and externalities. In this paper, we test empirically the stabilising role of the prices of new vessels through the application of advanced econometric tests. Finally, we challenge the assertion that the sub-optimal behaviour of new building prices is due to market anomalies, such as subsidies, and propose a perfectly competitive paradigm that can successfully accommodate the observed patterns of new building price behaviour. Maritime Economics & Logistics (2004) 6, 312–321. doi:10.1057/palgrave.mel.9100115

Date: 2004
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.palgrave-journals.com/mel/journal/v6/n4/pdf/9100115a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/mel/journal/v6/n4/full/9100115a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:marecl:v:6:y:2004:i:4:p:312-321

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/41278/PS2

Access Statistics for this article

Maritime Economics & Logistics is currently edited by Hercules E. Haralambides

More articles in Maritime Economics & Logistics from Palgrave Macmillan, International Association of Maritime Economists (IAME) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().