English, Article edition: A MODIFIED DUOPOLY GAME MODEL IN BULK COMMODITY TRANSPORTATION MARKETS ZHIYONG YANG; A. N. PERAKIS

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Physical Description
  • article
Language
  • English

Edition details

Title
  • A MODIFIED DUOPOLY GAME MODEL IN BULK COMMODITY TRANSPORTATION MARKETS
Author
  • ZHIYONG YANG
  • A. N. PERAKIS
Physical Description
  • article
Notes
  • 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.
  • Game theory, duopoly game, a two-stage, three-player game, game with complete information, capacity constraints
  • RePEc:wsi:igtrxx:v:09:y:2007:i:02:p:269-284
Language
  • English
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