In determining voyage charter rate, normally, the charterage is determined through the general process of negotiation with the power of the demand and supply in the market including various factors. This paper assumes that the ship-owner cannot make the contract with charterer after the end of prechartering, the delay cost per day from ship-owner will be incurred. This case can be applied to ch…
To describe how the well-known Shapley Value concept from cooperative game theory can be used as an approach to solve the transshipment problem.
The purpose of this paper is to summarize ways in which game theory has been or could be utilized within the humanitarian sector and to identify future research opportunities in this field. Game theory is a tool for modeling systems in which multiple decision makers act according to their own objectives and where individual choices affect system outcomes. Humanitarian logistics systems are ofte…