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Economically-efficient port expansion strategies: An optimal control approach

Author

Listed:
  • Dekker, Sander
  • Verhaeghe, Robert
  • Wiegmans, Bart

Abstract

This paper proposes an analytical model with a control approach to obtain an optimal port expansion strategy by balancing investment costs for the port and congestion costs for its users. Starting point is the optimality condition that marginal investment costs should balance marginal benefits. Particularly the scale effect in investment costs is considered; the consequence that the investment will be made in different stages is included in the solution. By relaxing some assumptions in the model, a numerical optimization algorithm is proposed which is applied to show how the approach can be used to deal with a practical expansion problem.

Suggested Citation

  • Dekker, Sander & Verhaeghe, Robert & Wiegmans, Bart, 2011. "Economically-efficient port expansion strategies: An optimal control approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 47(2), pages 204-215, March.
    • Handle: RePEc:eee:transe:v:47:y:2011:i:2:p:204-215
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    Citations

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    Cited by:

    1. Furkan Oztanriseven & Heather Nachtmann, 2020. "Modeling dynamic behavior of navigable inland waterways," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 22(2), pages 173-195, June.
    2. Beatriz Tovar & Alan Wall, 2017. "Dynamic Cost Efficiency in Port Infrastructure Using a Directional Distance Function: Accounting for the Adjustment of Quasi-Fixed Inputs Over Time," Transportation Science, INFORMS, vol. 51(1), pages 296-304, February.
    3. Asgari, Nasrin & Farahani, Reza Zanjirani & Goh, Mark, 2013. "Network design approach for hub ports-shipping companies competition and cooperation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 48(C), pages 1-18.
    4. Wang, Junjin & Liu, Jiaguo & Wang, Fan & Yue, Xiaohang, 2021. "Blockchain technology for port logistics capability: Exclusive or sharing," Transportation Research Part B: Methodological, Elsevier, vol. 149(C), pages 347-392.
    5. Oliveira, Gabriel Figueiredo de & Schaffar, Alexandra & Cariou, Pierre & Monios, Jason, 2021. "Convergence and growth traps in container ports," Transport Policy, Elsevier, vol. 110(C), pages 170-180.

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