SCL SEMINAR :: Bidding Algorithms for Simultaneous Transportation Procurement Auctions
We explore bidding strategies for a carrier in multiple simultaneous single-lane auctions. The challenge is that the operating cost of the carrier depends on the synergy between the set of lanes the carrier wins, which is not known until the end of the auction. The emphasis is on modeling the uncertainty involved by incorporating the bidding behavior of competitors. We model an optimization problem with the objective of maximizing the carrier's expected profit.
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- Workflow Status: Published
- Created By: Barbara Christopher
- Created: 10/08/2010
- Modified By: Fletcher Moore
- Modified: 10/07/2016