Chapter
Apr 26, 2012
Shipping Alliances' Formation Based on Evolutionary Game Theory
Publication: International Conference on Transportation Engineering 2007
Abstract
It is a long time from the appearance of international shipping alliance to the present situation which several stable alliances coexist, and it has experienced ceaseless adjustment. According to Darwinism, this process is a kind of "survival of the fittest" in the global shipping market. But from another point of view, it's the result of game theory where every shipping company plays with others in microcosmic market. This paper explains how so many shipping companies arrives at several stable alliances when market situation changes gradually based on the evolutionary game theory. After the introduction of shipping market's competitive history and evolutionary game theory, an evolutionary game theory model of shipping alliance's development is established. In the following part, the replicator dynamics equation's 3 fixed points are deduced, and the evolutionary stable strategy(ESS) of the model is found out. At last, some forecasts about shipping alliances' development are put forward.
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International Conference on Transportation Engineering 2007
Pages: 1885 - 1890
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© 2007 American Society of Civil Engineers.
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Published online: Apr 26, 2012
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Transportation Engineering and Logistics College, Dalian Maritime University, Liaoning, China. E-mail: [email protected]
Transportation Engineering and Logistics College, Dalian Maritime University, Liaoning, China,. E-mail: [email protected]
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