Multiobjective Combinatorial Auctions in Transportation Procurement

Ignatius, Joshua; Hosseini‐Motlagh, Seyyed‐Mahdi; Goh, Mark; Sepehri, Mohammad Mehdi; Mustafa, Adli; Rahman, Azimah Abd

doi:10.1155/2014/951783

Cited by 16 publications

(22 citation statements)

References 17 publications

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“…CAs are big business, having several practical applications ranging from the allocation of airport landing slots (Rassenti et al 1982) or harbor time slots (Ignatius et al 2014), the allocation of spectrum licenses (Brunner et al 2010;Scheffel et al 2012;Bichler et al 2013), the allocation of mineral/oil drilling rights (Cramton 2007), and real estate (Goossens et al 2014).…”

Section: Related Literaturementioning

confidence: 99%

Using Feedback to Mitigate Coordination and Threshold Problems in Iterative Combinatorial Auctions

2020

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Package bids, i.e., bids on sets of items, are an essential aspect of combinatorial auctions. They can allow bidders to accurately express their preferences. However, bidders on packages consisting of few items are often unable to outbid provisionally winning bids on large packages. To resolve this, both coordination as well as cooperation are needed. Coordination, since smaller bidders need to bid on packages that are disjoint; cooperation, since typically bid increases from more than one bidder are required to overcome the threshold to outbid a larger package bid. The authors design an information system that supports the implementation of an iterative combinatorial auction; this system is specifically aimed at helping bidders overcome coordination and threshold problems. They study the effect of information feedback on the behavior of bidders in different auction settings. The authors test this in an experimental setting using human bidders, varying feedback from very basic information about provisionally winning bids/prices, to providing more advanced concepts such as winning and deadness levels, and coalitional feedback. The experiment indicates that coalitional feedback has a positive impact on economic efficiency in cases where difficult threshold problems arise; however, it appears to have an adverse effect when threshold problems are easy.

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Section: Related Literaturementioning

confidence: 99%

Using Feedback to Mitigate Coordination and Threshold Problems in Iterative Combinatorial Auctions

2020

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“…Tian et al [30] formulated this problem as a linear integer programming model and proposed an iterative rounding heuristic algorithm that worked on a linearrelaxation of the integer programming model to solve it for moderate size instances. Ignatius et al [14] proposed a multiobjective winner determination combinatorial auction mechanism for transportation carriers working on multiple transport lanes to allow for lane bundling as packet bids to the shippers ocean freight and allow the carriers to maximize their network of resources and pass on some of the cost savings to the shipper.…”

Section: Literature Reviewmentioning

confidence: 99%

“…in which constraint (14) ensures that the flow balance and constraint (15) ensures that all loads have to be serviced. 2 is the sum of the costs of accepting the services provided by the carrier at price ( ) and the fixed costs and total variable costs of the shipper establishing its own transportation networks, which can be calculated using the following model:…”

Section: Assumptions and Notationsmentioning

confidence: 99%

“…Third, the auctioneer determines the best set of bundles that collectively contain each bid load exactly once and awards contracts for these bundles (rather than awarding individual bid loads) to the corresponding bidders [10]. These three stages are known as a Shipper Lane Selection Problem (SLSP) [11,12], bid generation problem (BGP) [7], and a Winner Determination Problem (WDP) [13,14], in which the BGP is the main focus in this paper.…”

Section: Introductionmentioning

confidence: 99%

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Transportation Service Procurement Bid Construction Problem from Less Than Truckload Perspective

Yan

et al. 2018

Mathematical Problems in Engineering

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This paper presents mixed integer programming for a transportation service procurement bid construction problem from a less than full truckload perspective, in which the bidders (carriers) generate their best bid (package) using a bundled price to maximize their utility and increase the chance of winning the business. The models are developed from both the carriers and shippers perspectives to establish a relationship between the quoted price and the likelihood of winning to assist the carriers in balancing the potential benefits and the possibility of winning the bid. An intelligent algorithm based on Particle Swarm Optimization is then designed to solve the proposed model and hypothetical data sets are used to test the effectiveness and efficiency of the proposed model and algorithm.

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“…3PL providers bring benefits to the contractors by reducing operation costs of transportation and warehousing, cutting down logistics-related fixed assets, improving information accuracy and order fulfilment [3,4]. In order to control the logistics costs and enhance the service quality, most manufactory enterprises beyond a certain scale take the form of open auction to procure logistics services [5,6]. To the 3PL companies, optimizing the biding strategy is very important.…”

Section: Introductionmentioning

confidence: 99%

A Novel GA-BP Based Bidding Prediction Algorithm for Contract Logistics of Road Freight Transportation

Wang¹,

Zhu²

2018

Proceedings of the 2018 International Conference on Education Reform and Management Science (ERMS 2018)

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In this paper, we propose a novel bidding prediction algorithm based on the hybrid GA (Genetic Algorithm) and BP (Back Propagation) model for contract logistics of road freight transportation. Seven factors of GDP, fuel price, market requirement, cargo weight, transportation distance, carrier, and truck specification are concerned as the major factors. According to the nonlinear nature of transportation cost and carriers' psychological price, the BP neural network is applied to fit the nonlinear features. By training the dataset, GA is good at predicting the short-term bidding prices. In addition, genetic algorithm is integrated into the GA model to improve the long-term searching performance. The hybrid GA-BP algorithm is experimented to be of a good predictor. This study gives implication to 3PL providers that mining previous records with artificial intelligent algorithm is effective and feasible in road freight transportation bidding managements.

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Multiobjective Combinatorial Auctions in Transportation Procurement

Cited by 16 publications

References 17 publications

Using Feedback to Mitigate Coordination and Threshold Problems in Iterative Combinatorial Auctions

Using Feedback to Mitigate Coordination and Threshold Problems in Iterative Combinatorial Auctions

Transportation Service Procurement Bid Construction Problem from Less Than Truckload Perspective

A Novel GA-BP Based Bidding Prediction Algorithm for Contract Logistics of Road Freight Transportation

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