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Game Theory Applications for Seaport Cooperation, Competition, and Co-opetition
Associate Professor, Department of Civil Engineering
University of Memphis
mgkolias@memphis.edu
Proposal Summary and Objectives
Applications of game theory in maritime transportation (ports and liner shipping network in specific) has been on the rise in the last decade (Lee and Song, 2017) and one research direction that has been proposed is the development of models that can capture cooperation/competitions between marine container terminal operators (MCTOs) and liner shipping companies. MCTO and/or port cooperation especially seems like a natural reaction to the rapid changes in the liner shipping industry in the form of new (and perhaps unstable) alliances and demand/supply volatility. In this project, we investigate the applicability of game theory models (e.g., multi-objective, Bertrand/Nash equilibrium problems -with or without equilibrium constraints-, Nash Bargaining and Equilibrium, Stackelberg etc.) to model cooperation, competition, and co-opetition between marine container terminal operators (MCTOs), seaports, and liner shipping alliances. The objective is to develop a mathematical framework that will maximize port revenues, minimize port costs and increase freight fluidity through our nation’s seaports.
Funding Amount: $96,991
Status: Complete
Duration: Sept. 1, 2017 - Aug. 31, 2018