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27 December 2019 Nash Equilibrium Strategy of Port Construction Considering Seawater Erosion
Qiang Lu, Zepeng Wang, Rong Wang
Author Affiliations +
Abstract

Lu, Q.; Wang, Z., and Wang, R., 2019. Nash equilibrium strategy of port construction considering seawater erosion. In: Li, L.; Wan, X.; and Huang, X. (eds.), Recent Developments in Practices and Research on Coastal Regions: Transportation, Environment and Economy. Journal of Coastal Research Journal of Coastal Research, Special Issue No. 98, pp. 330–334. Coconut Creek (Florida), ISSN 0749-0208.

The main construction approaches to ports are based on government investment and contractor construction. This method faces a particular drawback for the implementation of construction: the contractor fails to carry out the work in strict accordance with the plan. By considering the problems of government supervision and contractors' strict adherence to construction plans, as well as to seawater erosion after port construction, this paper uses Nash equilibrium to solve the optimal mixed strategy for both parties. The main influencing factors of the strategy are analyzed. Then this paper finds that the high probability of erosion can stimulate the government and contractor to do their best, and the sum of gains and losses also influence the best strategy. Based on analysis results, the corresponding suggestions are put forward.

©Coastal Education and Research Foundation, Inc. 2019
Qiang Lu, Zepeng Wang, and Rong Wang "Nash Equilibrium Strategy of Port Construction Considering Seawater Erosion," Journal of Coastal Research 98(sp1), 330-334, (27 December 2019). https://doi.org/10.2112/SI98-078.1
Received: 4 April 2019; Accepted: 26 June 2019; Published: 27 December 2019
KEYWORDS
Nash equilibrium
port construction
seawater erosion
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