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Strategic maritime container service design in oligopolistic markets

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Title: Strategic maritime container service design in oligopolistic markets
Authors: Angeloudis, P
Greco, L
Bell, MGH
Item Type: Journal Article
Abstract: This paper considers the maritime container assignment problem in a market setting with two competing firms. Given a series of known, exogenous demands for service between pairs of ports, each company is free to design liner services connecting a subset of the ports and demand, subject to the size of their fleets and the potential for profit. The model is designed as a three-stage complete information game: in the first stage, the firms simultaneously invest in their fleet; in the second stage, they individually design their services and solve the route assignment problem with respect to the transport demand they expect to serve, given the fleet determined in the first stage; in the final stage, the firms compete in terms of freight rates on each origin–destination movement. The game is solved by backward induction. Numerical solutions are provided to characterize the equilibria of the game.
Issue Date: 1-Aug-2016
Date of Acceptance: 15-Apr-2016
URI: http://hdl.handle.net/10044/1/31252
DOI: 10.1016/j.trb.2016.04.010
ISSN: 0191-2615
Publisher: Elsevier
Start Page: 22
End Page: 37
Journal / Book Title: Transportation Research Part B: Methodological: an international journal
Volume: 90
Issue: 1
Copyright Statement: © 2016 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
Sponsor/Funder: Commission of the European Communities
Engineering & Physical Science Research Council (EPSRC)
Funder's Grant Number: IEE/10/154/SI2.589407
Keywords: Social Sciences
Science & Technology
Engineering, Civil
Operations Research & Management Science
Transportation Science & Technology
Business & Economics
Container assignment model
Maritime network
Sequential games
Logistics & Transportation
0102 Applied Mathematics
0905 Civil Engineering
1507 Transportation and Freight Services
Publication Status: Published
Online Publication Date: 2016-04-30
Appears in Collections:Civil and Environmental Engineering
Faculty of Engineering