Event

Principia of Global Trade: Measuring Trade Mass in Global Networks with a Self-Consistent Gravity Model

04 February 2025
Expired!
1:00 pm - 1:30 pm

Location

Complexity Science Hub
Complexity Science Hub, Metternichgasse 8, 1030 Vienna

Organizer

Complexity Science Hub
Email
events@csh.ac.at
  • Attendance: on site
  • Language: EN

Event

Principia of Global Trade: Measuring Trade Mass in Global Networks with a Self-Consistent Gravity Model

Talk by Daekyung Lee, ASCII

The Gravity Model, rooted in Newton’s principles, has been a cornerstone for understanding global trade and human mobility. Despite its widespread use, the traditional reliance on proxies like GDP to estimate ‘mass’ introduces significant ambiguities, limiting its effectiveness. This study introduces a self-consistent method that directly infers mass and spatial dependencies from actual trade flow data, overcoming these limitations.

 Moreover, recent advancements extend the concept of ‘mass’ to a vector-based representation for each country, offering a more generalized perspective on international trade patterns. This new approach broadens the scope of trade analysis, enabling a deeper exploration of interdependencies within the global economy.

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