This paper examines the effect of inter-port competition between two ports by applying a game theoretical approach. We construct a non-cooperative game theoretic model where each port selects port charges strategically in the timing of port capacity investment. We derive the Nash equilibrium and...

We focus on non-storability, a characteristic of shipping freight that leads to an enormous gap between the widely-used no-arbitrage pricing theory and shipping freight derivative markets. Our main contribution is to modify and generalize the Bessembinder and Lemmon (2002) model. Equilibrium...

The EU is obviously playing a unique role in global governance systems. This paper will argue that the EU engages in fragmented global energy governance architecture based on two phenomena, Standardization and Externalization, from the beginning. Then, first section of this paper considers the...

The EU is a unique supranational actor in international relations. The development of the EU itself started with issues regarding energy. Through several historical steps, current energy policy is constructed. Gradually it put an importance on its external dimension. Since the Lisbon Treaty...