A Modified Duopoly Game Model In Bulk Commodity Transportation Markets
AbstractIn 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 InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.
Volume (Year): 09 (2007)
Issue (Month): 02 ()
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Web page: http://www.worldscinet.com/igtr/igtr.shtml
Find related papers by JEL classification:
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
- C0 - Mathematical and Quantitative Methods - - General
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
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- D5 - Microeconomics - - General Equilibrium and Disequilibrium
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