Game theoretical aspects in modeling and analyzing the shipping industry

Authors:
Xiaoning Shi;Stefan Voß
Affiliations:
University of Hamburg, Institute of Information Systems, Hamburg, Germany and Shanghai Jiao Tong University, Shanghai, P.R. China;University of Hamburg, Institute of Information Systems, Hamburg, Germany
Venue:
ICCL'11 Proceedings of the Second international conference on Computational logistics
Year:
2011

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Abstract

The shipping industry is known for providing transport service in terms of deploying vessels and accessing ports, making shipping one of the network-based services. From the perspective of traditional as well as neo-economics, shipping is assumed to pursue profit maximization subject to scarce resources, e.g. capital, assets, seafarers, or binding constraints derived from schedules, etc. Players could be any of the following: linkage operators, e.g. liner shipping carriers, port operators, freight forwarders, customs, hinterland haulage carriers, inland navigation carriers, market regulators, etc. Taking into account interdependencies and interrelations, game theory provides a meaningful way to model and analyze behaviors of the involved players. In this paper we provide a survey on game theoretical approaches within the shipping industry.