Charting sustainable logistics on the 21st-Century Maritime Silk Road: a DEA-based approach enhanced by risk considerations through prospect theory

This study investigates the sustainable logistics potential of countries along the Maritime Silk Road (MSR), a key part of the Belt and Road Initiative (BRI). It uses a Data Envelopment Analysis (DEA) model enhanced by Prospect Theory to assess economic performance, energy efficiency, infrastructure, governance, and innovation. The analysis reveals Vietnam's high economic efficiency, Indonesia's strong sustainability and governance, and Malaysia's balanced efficiency. India, Greece, Djibouti, and Kenya also emerge as important partners. The risk-aware DEA model offers a more comprehensive understanding of sustainable logistics, providing valuable insights for policymakers and businesses. Limitations include indirect measurement of behavioral coefficients and a focus on efficiency metrics without exploring cultural and political factors.

Chia-Nan Wang, Nhat-Luong Nhieu, Chun-Ming Chen