Please use this identifier to cite or link to this item:
https://hdl.handle.net/20.500.11851/6988
Title: | Location-Based Distribution Estimation for Stochastic Bid Price Optimization | Authors: | Olcaytu, Evren Kuyzu, Gültekin |
Keywords: | Procurement auctions truckload transportation stochastic optimization bidding parameter estimation |
Publisher: | Taylor & Francis Ltd | Abstract: | Stochastic bid price optimization of truckload carriers in simultaneous independent transportation auctions requires estimating the probability distributions of the clearing prices. Historical data can be used for this purpose. The sole estimation method found in the literature for this problem setting only takes the length of the auction load into account. In this paper, we devise methods for load-specific parameter estimation by filtering out data coming from past auction loads with distant origin or destination locations. Through simulations, we demonstrate that our methods can improve the profitability of the carriers compared to the previously used method. | URI: | https://doi.org/10.1080/19427867.2019.1700011 https://hdl.handle.net/20.500.11851/6988 |
ISSN: | 1942-7867 1942-7875 |
Appears in Collections: | Endüstri Mühendisliği Bölümü / Department of Industrial Engineering Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection |
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