Risk management and market structures in seaport–dry port systems
As seaborne and inland transport hubs, seaports and dry ports are vulnerable to diversified risks, such as climate-change-related disasters and congestion in daily operations, owing to their special geographical locations and socioeconomic functions in seaborne supply chains. If appropriate investments are made before the risks occur, the probability and potential damage of such risks can be mitigated. The authors propose a two-stage game to simultaneously study the preventive and adaptive investments of seaport and dry port authorities on diversified risks in scenarios of vertical cooperation and horizontal competition. In addition, in the latter case, the asymmetry between seaports and dry ports, regarding their vulnerability to risks, is taken into account. Findings show that it is not always advisable to pursue close cooperation, as players in a horizontal relationship must consider not only their own vulnerabilities but also those of others when making investment decisions. Finally, the authors find that port authorities need to pay more attention to the free-riding problem in the process of preventive investments than in adaptive investments.
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/issn/14792931
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Supplemental Notes:
- Copyright © 2021 Macmillan Publishers Ltd.
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Authors:
- Wang, Bi
- Chin, Kwai Sang
- Su, Qin
- Publication Date: 2021-10
Language
- English
Media Info
- Media Type: Web
- Features: Figures; References; Tables;
- Pagination: pp 114-137
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Serial:
- Maritime Economics & Logistics
- Volume: 24
- Issue Number: 1
- Publisher: Palgrave Macmillan
- ISSN: 1479-2931
- EISSN: 1479-294X
- Serial URL: https://link.springer.com/journal/41278
Subject/Index Terms
- TRT Terms: Competition; Cooperation; Market structure; Ports; Risk management; Supply chain management
- Subject Areas: Marine Transportation; Operations and Traffic Management; Terminals and Facilities;
Filing Info
- Accession Number: 01847025
- Record Type: Publication
- Files: TRIS
- Created Date: May 25 2022 9:36AM