The Value of Information in Container Transport

Rob A. Zuidwijk () and Albert W. Veenstra ()
Additional contact information
Rob A. Zuidwijk: Rotterdam School of Management, Erasmus University, 3000 DR Rotterdam, Netherlands; and Civil Engineering and Geosciences, Delft University of Technology, 2600 GA Delft, Netherlands
Albert W. Veenstra: Industrial Engineering and Innovation Sciences, Eindhoven University of Technology, 5600 MB Eindhoven, Netherlands

Transportation Science, 2015, vol. 49, issue 3, 675-685

Abstract: Planning the transport of maritime containers from the seaport to final inland destinations is challenged by uncertainties regarding the time the container is released for further transport and the transit time from the port to its final destination. This paper assesses the value of information in container transport in terms of efficiency and reliability. The analysis uses a stylized single period model where a decision maker allocates released containers to two transport modes (slow, low price, no flexible departure times versus fast, high price, flexible departure times) and plans the departure time of the inflexible mode. We construct Pareto frontiers and the corresponding Pareto optimal decisions under various information scenarios and show that the Pareto frontiers move in a favorable direction when the level of information increases. The mathematical results are explained and illustrated by means of a numerical example involving barge transport. We also perform a sensitivity analysis and study the impact of erroneous information on efficiency and reliability based on a numerical analysis.

Keywords: intermodal transport; value of information; Pareto optimality; single period model (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://dx.doi.org/10.1287/trsc.2014.0518 (application/pdf)

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:inm:ortrsc:v:49:y:2015:i:3:p:675-685

Access Statistics for this article

More articles in Transportation Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().