“Game Theory for the Maritime Professional”
Authors: Hendrik F. van Hemmen and Hannah van Hemmen
Published: October 22, 2014
For presentation at the 2014 SNAME Maritime Convention, Rik and Hannah co-authored this paper. The idea was to provide a more thorough treatment of Rik’s “Game Theory for the Maritime Professional” PowerPoint presentation, specifically geared towards marine engineers, but also digestable for the general maritime professional.
Game theory concepts discussed in this paper include the Prisoner’s Dilemma, Tit for Tat, the Nash equilibrium, BATNA, Pareto optimality, and the OODA loop. Maritime examples used to describe these game theory concepts include shipyard negotiations, the Joint Field Survey Report, the Hanseatic League, utmost good faith, Lloyd’s Open Form, the design spiral, shipyard selection, the Aegis Combact System, and press coverage during salvage operations (to name a few!)
To download the full paper click this link: Game Theory for the Maritime Professional