Disaster Adaptation Investment with Inter- and Intra-port Competition and Cooperation




京都大学桂キャンパスCクラスター C1-2棟 3階 314会議室

京都大学小林研究室では、ブリティッシュコロンビア大学 Sauder School of Businessの
Animing Zhang教授をお迎えして、下記のような講演会を企画いたしました。

場所:京都大学桂キャンパスCクラスター C1-2棟 3階 314会議室
講師:Prof. Anming Zhang
講演題目:Disaster Adaptation Investment with Inter- and Intra-port Competition and Cooperation
Unlike the rich literature on the environmental effects of transportation, there is a lack of research on the adaptation of transportation sector to climate change and related disasters. The present study analytically investigates the adaptation investments made by two landlord ports with each severing its respective captive market while competing for a common hinterland market.
Each port consists of a port authority that is either publicly owned (with an objective of welfare maximization) or privately owned (with profit maximization as its objective), and a private terminal operator. 
We examine the impacts of inter-port and intra-port competition and cooperation on port adaptation investments, as well as the ownership impacts.
We find, at the operation stage (i.e., conditional on the adaptation investments), that the public ownership of port authorities and the inter-port competition lead to lower port service charges. The differences in port charges among various ownership and competition scenarios increase with the adaptations, but decrease with the probability of the disaster occurrence.
Second, the adaptation investments increase with the expectation of the disaster occurrence probability but decrease with its variance. In other words, a higher expectation of the disaster occurrence probability encourages the adaptation, but the uncertainty of the disaster occurrence probability can discourage the adaptations. 
Third, public ownership of port authority leads to more port adaptation investments. Inter-port competition also results in more adaptation investments (i.e., the competition effect).
Fourth, for private port authority, there is free-riding between the port authority and the terminal operator (i.e., the free-riding effect) within each port. Their coordination can increase the adaptations by removing the free-riding effect.
Finally, the efficiency implications of ownership on adaptation investments are explored.