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A Modified Duopoly Game Model In Bulk Commodity Transportation Markets

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Author Info

  • ZHIYONG YANG

    ()
    (Exmar Offshore Company, 11511 Katy Freeway Ste 200, Houston, TX 77069, USA)

  • A. N. PERAKIS

    (Department of Naval Architecture and Marine Engineering, University of Michigan, Ann Arbor, USA)

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    Abstract

    In this paper, we try to analyze the interactions among the shippers and the carriers, including the rail and marine shipping industry, in the bulk shipping market. Our paper presents both a two-player game model, and a two-stage, three-player, game model that includes the buyer as an active player. Assuming the players have complete information, we derive an analytical solution to a two-stage, three-player game with capacity constraints. We also present a numerical algorithm to solve a two-stage, three-player game with complete information. A grain transportation scenario in the Great Lakes and St. Lawrence Seaway is used to illustrate our models. The results suggest that the two-stage, three-player game model has a better prediction capability than the duopoly game model in the bulk shipping competition problem.

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    Bibliographic Info

    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

    Volume (Year): 09 (2007)
    Issue (Month): 02 ()
    Pages: 269-284

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    Handle: RePEc:wsi:igtrxx:v:09:y:2007:i:02:p:269-284

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    Related research

    Keywords: Game theory; duopoly game; a two-stage; three-player game; game with complete information; capacity constraints;

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