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Profit Sharing and the Stability of Shipping Alliances Based on Game Theory

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  • Zhaojing Wang
  • Hao Hu
  • Qingcheng Zeng
  • Xiaobing Li

Abstract

The liner shipping industry has been characterised by a greater concentration after the advent of new shipping alliance policies: Ocean Three and 2M. The Modified Shapley model and the core theory are proposed to investigate the profit share and the stable operation of alliances. The results have revealed that: (i) a more reasonable profit distribution mechanism exists that considers risk-taking, market competitiveness and investment; (ii) the stable distribution intervals of dominant and non-dominant members are deduced to ensure their loyalty to alliances without re-structuring. This fills the gaps in the research on profit sharing by alliance members with different capacities.

Suggested Citation

  • Zhaojing Wang & Hao Hu & Qingcheng Zeng & Xiaobing Li, 2016. "Profit Sharing and the Stability of Shipping Alliances Based on Game Theory," Journal of Transport Economics and Policy, University of Bath, vol. 50(3), pages 245-24-261.
    • Handle: RePEc:tpe:jtecpo:2016:50:3:245--261
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    File URL: https://www.jstor.org/stable/jtranseconpoli.50.3.0245
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