This study analyzes capacity expansion and ship choice decisions. Theoretically, we derive the probability of capacity expansion as a function of market and companyattributes and characterize the impacts of these factors on expansion decisions.Empirically, we analyze ship investment and ship choice behaviour using binary choice and nested logit models based on ship investment data from major li…
The problem of determining the required ship investment for deployment is an ongoing problem faced by governments and ship operators. The nature of ship investment is capital-intensive and the return on investment is often take long time. This paper attempts to establish system dynamics modeling (SDM) to simulate and solve this problem in order to help ship operators make effective strategic de…