The price of anarchy in truckload transportation spot markets

IF 2.1 Q2 OPERATIONS RESEARCH & MANAGEMENT SCIENCE

EURO Journal on Transportation and Logistics Pub Date : 2022-01-01 DOI:10.1016/j.ejtl.2022.100071

Michael Haughton , Borzou Rostami , Shervin Espahbod

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引用次数: 1

Abstract

A concept of relevance to spot markets for truck-based freight transportation services is the price of anarchy (PoA), which defines the performance inferiority of decentralized market mechanisms for consummating transactions (vis-à-vis centralized mechanisms). To examine this concept in the context of transportation spot markets, this study uses a combination of behavioral experiments and mathematical optimization. The paper's contributions to the research literature for that context involve (1) addressing the case of freight transportation service providers having service requests information spanning multiple periods; (2) analyzing multiple performance measures; (2) accounting for the performance effects of human behavior; and (3) introducing new behavioral experiments as well as novel and effective analytical procedures to tackle truck-to-load assignment problems. Among the paper's most salient findings is that when performance is measured as the market participants' financial outcome, human behavior in buyer-seller interactions could result in a doubling of the PoA.

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卡车运输现货市场无政府状态的代价

与卡车货运服务现货市场相关的一个概念是无政府状态的价格(PoA)，它定义了分散市场机制在完善交易方面的表现不如(相对于-à-vis集中机制)。为了在运输现货市场的背景下检验这一概念，本研究使用了行为实验和数学优化相结合的方法。本文对该背景下的研究文献的贡献包括:(1)解决货运服务提供商的服务请求信息跨越多个时期的情况;(2)分析多个绩效指标;(2)考虑人的行为对绩效的影响;(3)引入新的行为实验以及新颖有效的分析程序来解决卡车到负载分配问题。这篇论文最突出的发现之一是，当业绩被衡量为市场参与者的财务结果时，人类在买卖双方互动中的行为可能导致PoA翻倍。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

EURO Journal on Transportation and Logistics Multiple-

CiteScore

4.60

自引率

0.00%

发文量

审稿时长

129 days

期刊介绍： The EURO Journal on Transportation and Logistics promotes the use of mathematics in general, and operations research in particular, in the context of transportation and logistics. It is a forum for the presentation of original mathematical models, methodologies and computational results, focussing on advanced applications in transportation and logistics. The journal publishes two types of document: (i) research articles and (ii) tutorials. A research article presents original methodological contributions to the field (e.g. new mathematical models, new algorithms, new simulation techniques). A tutorial provides an introduction to an advanced topic, designed to ease the use of the relevant methodology by researchers and practitioners.