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A Modified Duopoly Game Model In Bulk Commodity Transportation Markets

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


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

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    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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    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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