Transportation service procurement in periodic sealed double auctions with stochastic demand and supply

Su Xiu Xu and George Q. Huang

Transportation Research Part B: Methodological, 2013, vol. 56, issue C, 136-160

Abstract: This paper presents a double auction model to study transportation service procurement (TSP) in a dynamic single-lane transportation environment. Although this paper is motivated by a third-party logistics e-marketplace, the underlying model is applicable in the general bilateral exchange contexts. We first address TSP in a transportation spot market with stochastic but balanced or “symmetric” demand and supply. A periodic sealed double auction (PSDA) is proposed for TSP. Using a packing approach that considers possible bids and/or asks in an integral manner, we then devise a modified PSDA (M-PSDA) to address TSP with “asymmetric” demand and supply.

Keywords: Transportation service procurement; Double auctions; Revenue management; Strategic timing; Mechanism design; Supply–demand imbalance (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (27)

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DOI: 10.1016/j.trb.2013.07.015

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