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Title: | An efficient multi-attribute multi-item auction mechanism with ex-ante and ex-post satisfaction for 4PL transportation service procurement | Authors: | Yuan, N Qian, X Huang, M Liang, H Ip, AWH Yung, KL |
Issue Date: | 2023 | Source: | International journal of industrial engineering computations, 2023, v. 14, no. 3, p. 571-588 | Abstract: | Reverse auction is an effective tool for a 4PL to purchase transportation services. This paper investigated a new transportation services procurement problem for 4PL, which involves three features: the 4PL’s loss-averse behavior, price and non-price attributes, and multiple transportation requests. An efficient multi-attribute multi-item reverse auction mechanism considering the 4PL ex-ante and ex-post satisfaction (EES-MMRA) is proposed to purchase transportation services for the 4PL. In the EES-MMRA, integrating the allocation rule with the 4PL ex-ante satisfaction, a 0-1 programming model is constructed to determine winning 3PLs and obtain efficient allocations. Then, a payment rule considering the 4PL ex-post satisfaction is established to ensure truthful bidding of 3PLs. And we discuss some desirable properties (e.g., incentive compatibility, individual rationality, efficiency, and budget balance properties) to justify the EES-MMRA mechanism, subsequently. Next, several numerical experiments are conducted to demonstrate the effectiveness and applicability of the EES-MMRA mechanism. Furthermore, sensitivity analysis presents the influences of the weights of the non-price attributes, risk attitude coefficients, and loss aversion coefficients. Finally, we conduct comparison analysis to show the advantages of the EES-MMRA mechanism over the known Vickrey–Clark–Groves (P-VCG) mechanism. | Keywords: | Efficient multi-attribute reverse auction Ex-ante and ex-post satisfaction Mechanism design Transportation service procurement |
Publisher: | Growing Science | Journal: | International journal of industrial engineering computations | ISSN: | 1923-2926 | EISSN: | 1923-2934 | DOI: | 10.5267/j.ijiec.2023.3.001 | Rights: | © 2023 by the authors; licensee Growing Science, Canada. This is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC-BY) license (http://creativecommons.org/licenses/by/4.0/). The following publication Yuan, N., Qian, X., Huang, M., Liang, H., Ip, A & Yung, K. (2023). An efficient multi-attribute multi-item auction mechanism with ex-ante and ex-post satisfaction for 4PL transportation service procurement.International Journal of Industrial Engineering Computations , 14(3), 571-588 is available at http://dx.doi.org/10.5267/j.ijiec.2023.3.001. |
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