Quantifying opportunity costs in sequential transportation auctions for truckload acquisition

Miguel Andres Figliozzi*, Hani S. Mahmassani, Patrick Jaillet

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

18 Scopus citations

Abstract

The principal purpose of this research is to quantify opportunity costs in sequential transportation auctions. The focus of the study is a transportation marketplace with time-sensitive truckload pickup-and-delivery requests. Two carriers compete for service requests; each arriving service request triggers an auction in which carriers compete with each other to win the right of servicing the load. An expression for evaluating opportunity costs is derived. The impact of evaluating opportunity costs is shown to be dependent on the competitive market setting. A simulation framework is used to evaluate different strategies. Some results and the overall simulation framework are also discussed.

Original languageEnglish (US)
Title of host publicationNetwork Modeling 2006
PublisherNational Research Council
Pages247-252
Number of pages6
Edition1964
ISBN (Print)0309099730, 9780309099738
DOIs
StatePublished - 2006

Publication series

NameTransportation Research Record
Number1964
ISSN (Print)0361-1981

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Mechanical Engineering

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