Journal
TRANSPORTATION RESEARCH PART B-METHODOLOGICAL
Volume 39, Issue 10, Pages 914-933Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.trb.2004.11.003
Keywords
combinatorial auctions; contract procurement; set covering; trucking operations
Ask authors/readers for more resources
Trucking companies (carriers) are increasingly facing combinatorial auctions conducted by shippers seeking contracts for their transportation needs. The bid valuation and construction problem for carriers facing these combinatorial auctions is very difficult and involves the computation of a number of NP-hard sub problems. In this paper we examine computationally tractable approximation methods for estimating these values and constructing bids. The benefit of our approximation method is that it provides a way for carriers to discover their true costs and construct optimal or near optimal bids by solving a single NP-hard problem. This represents a significant improvement in computational efficiency. We examine our method both analytically and empirically using a simulation based analysis. (c) 2005 Published by Elsevier Ltd.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available