Static and Dynamic Game Theory in Common Oil and Gas Fields: A Literature Review and Bibliometric Analysis
Game Theory Literature Review
Keywords:
Oil and Gas Common Field, Game Theory, Literature Review, Bibliometric Analysis
Abstract
This paper provides a systematic literature review and analysis of game theory to model oil and gas scenarios. We select and review 2514 papers from Scopus, present a complex three-dimensional classification of the selected papers, and analyze the resultant citation network. According to the industry-based classification, the surveyed literature can be classified in common oil and gas supply chain fields. Based on the types of players, the literature can be classified into papers that use government-contractor games, the contractor–contractor games, contractor-subcontractor games, subcontractor–subcontractor games, or games involving other players. Based on the type of games used, papers using normal-form noncooperative games, normal-form cooperative games, extensive-form noncooperative games, or extensive-form cooperative games are present. Also, we show that each of the above classifications plays a role in influencing which papers are likely to cite a particular paper. However, the type-of-game classification exerts the strongest influence. Overall, the citation network in this field is sparse, implying that the authors' awareness of studies by other academics is suboptimal. Our review suggests that game theory is useful for modeling oil and gas scenarios. More work needs to be done on production in this domain and using extensive-form noncooperative games.
References
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Jiang, S., Chen, G., Meng, X., Yang, D., Zhu, Y., Liu, K., & Chang, Y. (2022). Integrity control analysis of natural gas hydrate production wellbore using system method and game theory. Journal of Loss Prevention in the Process Industries, 75, 104696.
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Keshavarz, M., Iranmanesh, H., & Dehghan, R. (2021). Modelling the Iranian Petroleum Contract fiscal regime using bargaining game theory to guide contract negotiators. Petroleum Science.
Lopes, Y. G., & Almeida, A. T. de. (2013). A multicriteria decision model for selecting a portfolio of oil and gas exploration projects. Pesquisa Operacional, 33(3), 417–441.
Madani, K., & Hipel, K. W. (2011). Non-cooperative stability definitions for strategic analysis of generic water resources conflicts. Water Resources Management, 25(8), 1949–1977.
Morais, V. W. C., Mateus, G. R., & Noronha, T. F. (2014). Iterated local search heuristics for the vehicle routing problem with cross-docking. Expert Systems with Applications, 41(16), 7495–7506.
Mulrow, C. D. (1994). Systematic reviews: rationale for systematic reviews. Bmj, 309(6954), 597–599.
Nakhle, C. (2008). Iraq’s Oil future: Finding the right framework. Surrey Energy Economics Centre, University of Surrey, October.
Nicholas, D., & Ritchie, M. (1978). Literature and bibliometrics. C. Bingley.
Noyons, E. C. M. (1999). Bibliometric mapping as a science policy and research management tool. Leiden University.
Oliveira, C. C. G., & Lopes, H. E. G. (2016). Coopetition in interpersonal networks: A theoretical approach. International Journal of Emerging Research in Management & Technology, 5(3), 17–24.
Osborne, M. J., & Rubinstein, A. (1994). A course in game theory. MIT press.
Pitchard, N. T. (1969). Framework for Analysis of Agricultural Marekting System in Developing Countries. Agricultural Economics Research, 21(3), 78–85.
Rapoport, A., & Kahan, J. P. (1976). When three is not always two against one: Coalitions in experimental three-person cooperative games. Journal of Experimental Social Psychology, 12(3), 253–273.
Robinson, D. R., & Goforth, D. J. (2005). Conflict, no conflict, common interests, and mixed interests in 2× 2 games. Deparament of Mathematics and Computer Science.
Roman, M. D., & Stanculescu, D. M. (2021). An Analysis of Countries’ Bargaining Power Derived from the Natural Gas Transportation System Using a Cooperative Game Theory Model. Energies, 14(12), 3595.
Salimian, S., & Shahbazi, K. (2017). Iran’s Strategy in Utilizing Common Resources of Oil and Gas: Game Theory Approach. Iranian Journal of Economic Studies, 6(2), 185–202.
Souza, F. C. de, & Rêgo, L. C. (2013). Collaborative dominance: when doing unto others as you would have them do unto you is reasonable. Pesquisa Operacional, 33(3), 467–476.
Stevens, D. T. W. (1953). Recreational geography of the Lake Texoma region.
Thelwall, M. (2009). Introduction to webometrics: Quantitative web research for the social sciences. Synthesis Lectures on Information Concepts, Retrieval, and Services, 1(1), 1–116.
Toufighi, S. P. (2022). Assessing the Stability of the Oil and Gas Production in Common Fields : Application of Game Theory. 5(05), 1250–1262. https://doi.org/10.47191/jefms/v5-i5-06
Toufighi, S. P., Mehregan, M., & Jafarnejad, A. (2020). Optimization of Iran’s Production in Forouzan Common Oil Filed based on Game Theory. Mathematics Interdisciplinary Research, 5(3), 173–192.
Toufighi, S. P., Mehregan, M. R., & Jafarnejad, A. (2022). Modeling of Production Strategies from Common Offshore Gas Field with Game Theory Approach. Mathematics Interdeciplinary Research, 7(March), 21–44. https://doi.org/10.22052/mir.2022.243449.1329
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence‐informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.
Wagstaff, S., Burton, J., & Zolkiewski, J. (2021). Should we cooperate? Game theory insights for servitization. Journal of Service Management.
Wang, D., Du, G., Jiao, R. J., Wu, R., Yu, J., & Yang, D. (2016). A Stackelberg game theoretic model for optimizing product family architecting with supply chain consideration. International Journal of Production Economics, 172, 1–18. https://doi.org/10.1016/j.ijpe.2015.11.001
Wang, Z., Mathiyazhagan, K., Xu, L., & Diabat, A. (2016). A decision making trial and evaluation laboratory approach to analyze the barriers to Green Supply Chain Management adoption in a food packaging company. Journal of Cleaner Production, 117, 19–28.
Willigers, B. J. A., Bratvold, R., & Hausken, K. (2009). A game theoretic approach to conflicting and evolving stakeholder preferences in the E&P industry. SPE Economics & Management, 1(01), 19–26.
Wilson, C. S., & Osareh, F. (2003). Science and research in Iran: A scientometric study. Interdisciplinary Science Reviews, 28(1), 26–37.
Yue, D., & You, F. (2014). Game-theoretic modeling and optimization of multi-echelon supply chain design and operation under Stackelberg game and market equilibrium. Computers and Chemical Engineering, 71, 347–361. https://doi.org/10.1016/j.compchemeng.2014.08.010
Yue, D., & You, F. (2015). Bilevel Optimization for Design and Operations of Noncooperative Biofuel Supply Chains. Icheap12: 12th International Conference on Chemical & Process Engineering, 43, 1309–1314. https://doi.org/10.3303/CET1543219
Yue, D., You, F., & Snyder, S. W. (2014). Biomass-to-bioenergy and biofuel supply chain optimization: Overview, key issues and challenges. Computers and Chemical Engineering, 66, 36–56. https://doi.org/10.1016/j.compchemeng.2013.11.016
Zhang, H., Liang, Y., Ma, J., Qian, C., & Yan, X. (2017). An MILP method for optimal offshore oilfield gathering system. Ocean Engineering, 141(November 2016), 25–34. https://doi.org/10.1016/j.oceaneng.2017.06.011
Zhu, Q., & Singh, G. (2016). The impacts of oil price volatility on strategic investment of oil companies in North America, Asia, and Europe. Pesquisa Operacional, 36(1), 1–21. https://doi.org/10.1590/0101-7438.2016.036.01.0001
Arsenyan, J., Büyüközkan, G., & Feyzioğlu, O. (2015). Modeling collaboration formation with a game theory approach. Expert Systems with Applications, 42(4), 2073–2085.
Bagheri Nasrabadi, M., Jaasbi, A., Bonyadi Naeini, A., & Shavvalpour, S. (2022). Evolutionary Game Theory Approach to Technology Development of Oil and Gas Equipment Manufacturing Industry: The Case of the Ten Major Commodity Groups’ Project of the Petroleum Industry. Iranian Journal of Management Studies, 15(2), 365–380.
Borgman, C. L. (1990). Scholarly communication and bibliometrics. Sage Publications.
Boyack, K. W., Klavans, R., & Börner, K. (2005). Mapping the backbone of science. Scientometrics, 64(3), 351–374.
Brams, S. J. (1994). Game theory and literature. Games and Economic Behavior, 6(1), 32–54.
Bratvold, R. B., & Koch, F. (2011). Game Theory in the Oil and Gas Industry. The Way Ahead, 07(01), 18–20. https://doi.org/10.2118/0111-018-twa
Callon, M., Law, J., & Rip, A. (1986). How to study the force of science. In Mapping the dynamics of science and technology (pp. 3–15). Springer.
Castillo, L., & Dorao, C. A. (2013). Decision-making in the oil and gas projects based on game theory: Conceptual process design. Energy Conversion and Management, 66, 48–55.
DeCanio, S. J., & Fremstad, A. (2013). Game theory and climate diplomacy. Ecological Economics, 85, 177–187.
Esmaeili, M., Bahrini, A., & Shayanrad, S. (2015). Using game theory approach to interpret stable policies for Iran’s oil and gas common resource conflicts with Iraq and Qatar. Animal Genetics, 39(5), 561–563.
Fedorenko, V. V, Samoylenko, V. V, Samoylenko, I. V, & Dimitriadi, Y. K. (2021). A Review of Smart Off-Grid Power Systems Optimization Models for the Oil and Gas Industry. IOP Conference Series: Materials Science and Engineering, 1069(1), 12016.
Garcia, D. J., & You, F. (2015). Supply chain design and optimization: Challenges and opportunities. Computers and Chemical Engineering, 81, 153–170. https://doi.org/10.1016/j.compchemeng.2015.03.015
Golestani, N., Arzaghi, E., Abbassi, R., Garaniya, V., Abdussamie, N., & Yang, M. (2021). The Game of Guwarra: A game theory-based decision-making framework for site selection of offshore wind farms in Australia. Journal of Cleaner Production, 326, 129358.
Griffiths, T. L., & Steyvers, M. (2004). Finding scientific topics. Proceedings of the National Academy of Sciences, 101(suppl 1), 5228–5235.
Gupta, S. (2021). Negotiating Change Orders with Suppliers during New Product Development using MCDM and Bayesian Game Theory. IIE Annual Conference. Proceedings, 608–613.
HAMACHER, S., & MARTINS, V. F. (2015). Aplicações de Pesquisa Operacional na Indústria Internacional de Petróleo e Gás (Operational Research applications in the international oil and gas industry). Elsevier, 1st edition, Rio de Janeiro, RJ, Brazil.
Havas, V. (2015). War of attrition in the Arctic offshore : Technology spillovers and risky investments in oil and gas extraction. May.
Hertzel, D. H. (2003). Bibliometrics history. Encyclopedia of Library and Information Science, 1.
Jafarzadeh, A., Shakeri, A., Ghasemi, A., & Javan, A. (2021). Possibility of potential coalitions in gas exports from the Southern Corridor to Europe: a cooperative game theory framework. OPEC Energy Review.
Jiang, S., Chen, G., Meng, X., Yang, D., Zhu, Y., Liu, K., & Chang, Y. (2022). Integrity control analysis of natural gas hydrate production wellbore using system method and game theory. Journal of Loss Prevention in the Process Industries, 75, 104696.
Jin, S. W., Li, Y. P., & Xu, L. P. (2018). Development of an integrated model for energy systems planning and carbon dioxide mitigation under uncertainty – Tradeoffs between two-level decision makers. Environmental Research, 164(March), 367–378. https://doi.org/10.1016/j.envres.2018.03.010
Kelly, A. (2003). Decision making using game theory: an introduction for managers. Cambridge University Press.
Keshavarz, M., Iranmanesh, H., & Dehghan, R. (2021). Modelling the Iranian Petroleum Contract fiscal regime using bargaining game theory to guide contract negotiators. Petroleum Science.
Lopes, Y. G., & Almeida, A. T. de. (2013). A multicriteria decision model for selecting a portfolio of oil and gas exploration projects. Pesquisa Operacional, 33(3), 417–441.
Madani, K., & Hipel, K. W. (2011). Non-cooperative stability definitions for strategic analysis of generic water resources conflicts. Water Resources Management, 25(8), 1949–1977.
Morais, V. W. C., Mateus, G. R., & Noronha, T. F. (2014). Iterated local search heuristics for the vehicle routing problem with cross-docking. Expert Systems with Applications, 41(16), 7495–7506.
Mulrow, C. D. (1994). Systematic reviews: rationale for systematic reviews. Bmj, 309(6954), 597–599.
Nakhle, C. (2008). Iraq’s Oil future: Finding the right framework. Surrey Energy Economics Centre, University of Surrey, October.
Nicholas, D., & Ritchie, M. (1978). Literature and bibliometrics. C. Bingley.
Noyons, E. C. M. (1999). Bibliometric mapping as a science policy and research management tool. Leiden University.
Oliveira, C. C. G., & Lopes, H. E. G. (2016). Coopetition in interpersonal networks: A theoretical approach. International Journal of Emerging Research in Management & Technology, 5(3), 17–24.
Osborne, M. J., & Rubinstein, A. (1994). A course in game theory. MIT press.
Pitchard, N. T. (1969). Framework for Analysis of Agricultural Marekting System in Developing Countries. Agricultural Economics Research, 21(3), 78–85.
Rapoport, A., & Kahan, J. P. (1976). When three is not always two against one: Coalitions in experimental three-person cooperative games. Journal of Experimental Social Psychology, 12(3), 253–273.
Robinson, D. R., & Goforth, D. J. (2005). Conflict, no conflict, common interests, and mixed interests in 2× 2 games. Deparament of Mathematics and Computer Science.
Roman, M. D., & Stanculescu, D. M. (2021). An Analysis of Countries’ Bargaining Power Derived from the Natural Gas Transportation System Using a Cooperative Game Theory Model. Energies, 14(12), 3595.
Salimian, S., & Shahbazi, K. (2017). Iran’s Strategy in Utilizing Common Resources of Oil and Gas: Game Theory Approach. Iranian Journal of Economic Studies, 6(2), 185–202.
Souza, F. C. de, & Rêgo, L. C. (2013). Collaborative dominance: when doing unto others as you would have them do unto you is reasonable. Pesquisa Operacional, 33(3), 467–476.
Stevens, D. T. W. (1953). Recreational geography of the Lake Texoma region.
Thelwall, M. (2009). Introduction to webometrics: Quantitative web research for the social sciences. Synthesis Lectures on Information Concepts, Retrieval, and Services, 1(1), 1–116.
Toufighi, S. P. (2022). Assessing the Stability of the Oil and Gas Production in Common Fields : Application of Game Theory. 5(05), 1250–1262. https://doi.org/10.47191/jefms/v5-i5-06
Toufighi, S. P., Mehregan, M., & Jafarnejad, A. (2020). Optimization of Iran’s Production in Forouzan Common Oil Filed based on Game Theory. Mathematics Interdisciplinary Research, 5(3), 173–192.
Toufighi, S. P., Mehregan, M. R., & Jafarnejad, A. (2022). Modeling of Production Strategies from Common Offshore Gas Field with Game Theory Approach. Mathematics Interdeciplinary Research, 7(March), 21–44. https://doi.org/10.22052/mir.2022.243449.1329
Tranfield, D., Denyer, D., & Smart, P. (2003). Towards a methodology for developing evidence‐informed management knowledge by means of systematic review. British Journal of Management, 14(3), 207–222.
Wagstaff, S., Burton, J., & Zolkiewski, J. (2021). Should we cooperate? Game theory insights for servitization. Journal of Service Management.
Wang, D., Du, G., Jiao, R. J., Wu, R., Yu, J., & Yang, D. (2016). A Stackelberg game theoretic model for optimizing product family architecting with supply chain consideration. International Journal of Production Economics, 172, 1–18. https://doi.org/10.1016/j.ijpe.2015.11.001
Wang, Z., Mathiyazhagan, K., Xu, L., & Diabat, A. (2016). A decision making trial and evaluation laboratory approach to analyze the barriers to Green Supply Chain Management adoption in a food packaging company. Journal of Cleaner Production, 117, 19–28.
Willigers, B. J. A., Bratvold, R., & Hausken, K. (2009). A game theoretic approach to conflicting and evolving stakeholder preferences in the E&P industry. SPE Economics & Management, 1(01), 19–26.
Wilson, C. S., & Osareh, F. (2003). Science and research in Iran: A scientometric study. Interdisciplinary Science Reviews, 28(1), 26–37.
Yue, D., & You, F. (2014). Game-theoretic modeling and optimization of multi-echelon supply chain design and operation under Stackelberg game and market equilibrium. Computers and Chemical Engineering, 71, 347–361. https://doi.org/10.1016/j.compchemeng.2014.08.010
Yue, D., & You, F. (2015). Bilevel Optimization for Design and Operations of Noncooperative Biofuel Supply Chains. Icheap12: 12th International Conference on Chemical & Process Engineering, 43, 1309–1314. https://doi.org/10.3303/CET1543219
Yue, D., You, F., & Snyder, S. W. (2014). Biomass-to-bioenergy and biofuel supply chain optimization: Overview, key issues and challenges. Computers and Chemical Engineering, 66, 36–56. https://doi.org/10.1016/j.compchemeng.2013.11.016
Zhang, H., Liang, Y., Ma, J., Qian, C., & Yan, X. (2017). An MILP method for optimal offshore oilfield gathering system. Ocean Engineering, 141(November 2016), 25–34. https://doi.org/10.1016/j.oceaneng.2017.06.011
Zhu, Q., & Singh, G. (2016). The impacts of oil price volatility on strategic investment of oil companies in North America, Asia, and Europe. Pesquisa Operacional, 36(1), 1–21. https://doi.org/10.1590/0101-7438.2016.036.01.0001
Published
2022-07-23
How to Cite
Toufighi, S. P., & Soltani, Z. (2022). Static and Dynamic Game Theory in Common Oil and Gas Fields: A Literature Review and Bibliometric Analysis. International Journal of Social Science Research and Review, 5(7), 253-268. https://doi.org/10.47814/ijssrr.v5i7.356
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