Ship tonnages determined by the world economic growth with game theory

Year 2022, Volume: 6 Issue: 4, 300 - 305, 15.10.2022

Devran Yazır Bekir Şahin T.l. Yıp

https://doi.org/10.31127/tuje.1001664

Abstract

Game theory is a discipline that examines subjects such as negotiation, conflict and cooperation between individuals, organizations, and companies by using mathematical models. Game theory is interested in understanding interaction between companies each other companies and individuals, particular decisions made by individuals and their effects on other individuals. The aim of the study is to investigate the maritime companies in a competitive environment where economic imbalances take place. For this purpose, the economic data reached through the International Monetary Fund (IMF) have been used. In this study, the effect of the increase in the economy over the increase in the tonnage of maritime transport and the effects of the tonnage over the excess or shortage in the market are calculated by using the game theory technique. In this respect, the issue of how long the overall tonnage increase should continue in the economy is taken into consideration. At the same time, moving economically with forward-looking estimates has also made the decision-making process more difficult.

Keywords

Decision Making, Competition Environment, Game Theory, Maritime Companies, Mathematical Model

References

• Aktan C C & Bahçe A B (2013). Kamu Tercihi Perspektifinden Oyun Teorisi. Hukuk ve İktisat Araştırmaları Dergisi, 5(2), 93-117.
• Alien R G D (1956). Mathematical Economics. London. Macmillan and co LTD New York. St martin's press. p. 494.
• Alparslan F (2018). Oyun Teorisi. İktisat ve Toplum Dergisi 90. Sayı, p 65.
• Chase R B & Aquilano N J (1981). Production and Operations Management: A life Cycle Approach. Third Edition, Irwin, USA.
• Govindan S & Wilson R (2005). Refinements of Nash Equilibrium. Working Paper No. 1897, Economics.
• He J, Li Y, Li H, Tong H, Yuan Z, Yang X & Huang W (2020). Application of Game Theory in Integrated Energy System Systems: A Review. IEEE Access, 8, 93380-93397.
• Lin D Y, Juan C J & Ng M (2021). Evaluation of Green Strategies in Maritime Liner Shipping Using Evolutionary Game Theory. Journal of Cleaner Production, 279, 123268.
• Meca A, Timmer J, Garcia-Jurado I & Borm P E M (2004). Inventory games. European Journal of Operations Research, 156, 127–139.
• Myerson R B (1999). Nash Equilibrium and The History of Economic Theory. Journal of Economic Literature, 36, 1067-1082.
• Rençber B A (2012). Karar Vermede Oyun Teorisi Tekniği ve Bir Uygulama. Uşak Üniversitesi Sosyal Bilimler Dergisi, 5(3), 97-108.
• Sahin B & Soylu A (2020). Intuitionistic fuzzy analytical network process models for maritime supply chain. Applied Soft Computing, 96, 106614.
• Sahin B & Yip T L (2017). Shipping technology selection for dynamic capability based on improved Gaussian fuzzy AHP model. Ocean Engineering, 136, 233-242.
• Sahin B, Yip T L, Tseng P H, Kabak M & Soylu A (2020). An application of a fuzzy TOPSIS multi-criteria decision analysis algorithm for dry bulk carrier selection. Information, 11(5), 251.
• Sulak H (2008). Stok kontrolü ve ekonomik sipariş miktarı modellerinde yeni açılımlar: ödemelerde gecikmeye izin verilmesi durumu ve bir model önerisi, Doktora Tezi, Süleyman Demirel Üniversitesi, Sosyal Bilimler Enstitüsü, Isparta.
• United Nations Conference on Trade and Development. (2015). Review of Maritime Transport United Nations Conference on Trade and Development.
• United Nations Conference on Trade and Development. (2016). Review of Maritime Transport United Nations Conference on Trade and Development.
• United Nations Conference on Trade and Development. (2017). Review of Maritime Transport United Nations Conference on Trade and Development.
• URL-1: what is the nash-equilibrium and why does it matter. (2016). https://www.economist.com/the-economist-explains (ET:12.03.2019).
• URL-2: International Monetary Fund. http://www.imf.org/external/datamapper/(ET:10.03.2019).
• Yazır D, Şahin B & Yip T L (2021). Selection of new design gas carriers by using fuzzy EVAMIX method. The Asian Journal of Shipping and Logistics, 37(1), 91-104.
• Yazır D & Şahin B (2017). Linear Regression Approach for the Financial Risks of Shipping Industry. TransNav, the International Journal on Marine Navigation and Safety of Sea Transportation, 11(4).