Proceedings of the Korean Institute of Navigation and Port Research Conference (한국항해항만학회:학술대회논문집)
- 2023.05a
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- Pages.256-257
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- 2023
Decision making for Shipping Network based on Adaptive Cumulative Prospect Theory
- Pham Thi Yen (Graduate school of Korea Maritime and Ocean University) ;
- Nguyen Phung Hung (Maritime Academy, Ho Chi Minh City University of Transport) ;
- Truong Ngoc Cuong (Dept. of Logistics, Korea Maritime and Ocean University) ;
- Hwan-Seong Kim (Dept. of Logistics, Korea Maritime and Ocean University)
- Published : 2023.05.02
Abstract
This paper aims to propose optimal method to assess and cumulate the daily profit for liner shipping to support the shipping lines in making optimal decision with the highest average daily profit. This paper not only explains the actual calculated results align with decision-makers' behavior from concepts indicated in cumulative prospect theory but also contributes to an easy-to-apply method for liner shipping network predictability in and provides optimal decision-making is helpful for shipping managers for the best effective selection of the most appropriate alternative under uncertainties.
Keywords
- Decision-making;
- Shipping network;
- Cumulative prospect theory;
- Daily profit model;
- Expected utility theory