Improved opportunity cost algorithm for carrier selection in combinatorial auctions

Document Type

Conference Proceeding

Publication Date

12-1-2004

Abstract

In the traditional carrier selection process, individual lanes are auctioned separately disallowing the carriers to express complementarities and substitutes of lanes. Combinatorial auction mechanisms allow the carriers to take advantage of the lane bundles and existing service schedule to offer services at lower rates and be more competitive. Akcoglu et al [13] used the "local ratio technique" to compute a greedy solution to the problem. This research seeks to improve the local ratio technique to find better quality solution to the allocation problem.

Publication Source (Journal or Book title)

IIE Annual Conference and Exhibition 2004

First Page

491

Last Page

495

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