Determining the Optimum Ticket Prices in Bus Transportation by Using Game Theory: Case of Gümüşhane-İstanbul
Öz
In a competitive environment, companies must make strategic decisions aligned with their objectives to sustain their existence and advance. One of the methods used to determine the best strategy for companies is game theory. Using the game theory, this study aims to determine the optimal ticket prices for the services of two competing bus companies operating on the same route (Gümüşhane-İstanbul). For this purpose, data on ticket prices and passenger numbers set by the two bus companies between October 2023 and October 2024 were utilized. Based on the data obtained from the two bus companies, the companies’ strategies were first identified, and revenue values were calculated. Subsequently, a two-player, zero-sum, and 7x7 game matrix was constructed using these revenue values. Through the maxmin and minmax methods in game matrix, the saddle point of the game was identified, and the expected values for each strategy determined for each of the two bus companies were calculated separately. Considering these calculations, it was concluded that both companies should set ticket prices between 1,250 TL and 1,350 TL to maximize their revenues.
Anahtar Kelimeler
Bus Transportation, Decision-Making, Game Theory, Optimum Ticket Price, Price Competition, Transportation Economics
Proje Numarası
None
Etik Beyan
Bu çalışma bilimsel araştırma ve yayın etiği kurallarına uygun olarak hazırlanmıştır. Araştırmanın etik kurul onayı Gümüşhane Üniversitesi Bilimsel Araştırma ve Yayın Etiği Kurulu tarafından verilmiştir (15 Kasım 2024 tarih ve 2024/9 sayılı karar).
Kaynakça
- Abdalzaher, M. S., Seddik, K., Elsabrouty, M., Muta, O., Furukawa, H., & Abdel-Rahman, A. (2016). Game theory meets wireless sensor networks security requirements and threats mitigation: A survey. Sensors, 16(7), 1003. https://doi.org/10.3390/s16071003
- Acar, E. (2019). Oyun teorisi ile bireysel yatırım kararı: Minimax yaklaşımıyla portföy optimizasyonu. International Social Sciences Studies Journal, 5(34), 2286-2297. https://doi.org/10.26449/sssj.1466
- Adler, N., & Andreana, G. (2024). Aiding airlines for the benefit of whom? An applied game-theoretic approach. European Journal of Operational Research, 314(2), 552-564. https://doi.org/10.1016/j.ejor.2023.09.015
- Ahmad, A. (2023). Land for peace? Game theory and the strategic impediments to a resolution in Israel-Palestine. Defence and Peace Economics, 34(4), 385-409. https://doi.org/10.1080/10242694.2022.2031445
- Ahmad, F., Almarri, O., Shah, Z., & Al-Fagih, L. (2023). Game theory applications in traffic management: A review of authority-based travel modelling. Travel Behaviour and Society, 32, 100585. https://doi.org/10.1016/j.tbs.2023.100585
- Aktan, C. C., & Bahçe, A. B. (2013). Kamu tercihi perspektifinden oyun teorisi. Hukuk ve İktisat Araştırmaları Dergisi, 5(2), 93-117. https://dergipark.org.tr/tr/pub/hiad/issue/7654/331468
- Archetti, M., & Pienta, K. J. (2019). Cooperation among cancer cells: Applying game theory to cancer. Nature Reviews Cancer, 19(2), 110-117. https://doi.org/10.1038/s41568-018-0083-7
- Arslan, B., & Çetin, E. (2021). Vekâlet teorisinde fırsatçılık kavramı ve oyun teorisi arasındaki ilişki. Uluslararası Yönetim Akademisi Dergisi, 4(2), 439-454. https://doi.org/10.33712/mana.962926
- Asoy, E. (2018). Toplumsal cinsiyet ayrımı ve cam tavan sendromu üzerine oyun teorisi modeli: Cam tavanın kırıldığı oyun dengesi. Marmara Üniversitesi Kadın ve Toplumsal Cinsiyet Araştırmaları Dergisi, 2(2), 85-95. https://doi.org/10.26695/mukatcad.2018.19
- Atış, E., & Çelıkoğlu, Ş. (2022). Ulaşım coğrafyası bakımından Zonguldak Havalimanı. Premium E-Journal of Social Science (PEJOSS), 6(25), 474-488. https://doi.org/10.37242/pejoss.4275