Multiobjective Combinatorial Auctions in Transportation Procurement
Joshua Ignatius,
Seyyed-Mahdi Hosseini-Motlagh,
Mark Goh,
Mohammad Mehdi Sepehri,
Adli Mustafa and
Amirah Rahman
Mathematical Problems in Engineering, 2014, vol. 2014, 1-9
Abstract:
This paper presents a multiobjective winner determination combinatorial auction mechanism for transportation carriers to present multiple transport lanes and bundle the lanes as packet bids to the shippers for the purposes of ocean freight. This then allows the carriers to maximize their network of resources and pass some of the cost savings onto the shipper. Specifically, we formulate three multi-objective optimization models (weighted objective model, preemptive goal programming, and compromise programming) under three criteria of cost, marketplace fairness, and the marketplace confidence in determining the winning packages. We develop solutions on the three models and perform a sensitivity analysis to show the options the shipper can use depending on the existing conditions at the point of awarding the transport lanes.
Date: 2014
References: Add references at CitEc
Citations:
Downloads: (external link)
http://downloads.hindawi.com/journals/MPE/2014/951783.pdf (application/pdf)
http://downloads.hindawi.com/journals/MPE/2014/951783.xml (text/xml)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:951783
DOI: 10.1155/2014/951783
Access Statistics for this article
More articles in Mathematical Problems in Engineering from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().