GRASP with hybrid path relinking for bi-objective winner determination in combinatorial transportation auctions
Tobias Buer; Giselher Pankratz
The procurement of transportation services via large-scale combinatorial auctions involves a couple of complex decisions whose outcome highly influences the performance of the tender process. This paper examines the shipper's task of selecting a subset of the submitted bids which efficiently trades off total procurement cost against expected carrier performance. To solve this bi-objective winner determination problem, we propose a Pareto-based greedy randomized adaptive search procedure (GRASP). As a post-optimizer we use a path relinking procedure which is hybridized with branch-and-bound. Several variants of this algorithm are evaluated by means of artificial test instances which comply with important real-world characteristics. The two best variants prove superior to a previously published Pareto-based evolutionary algorithm. - Transportation procurement ; combinatorial auction ; set covering problem ; carrier performance ; multi-criteria decision making ; Pareto optimization ; GRASP
Year of publication: |
2010
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Authors: | Buer, Tobias ; Pankratz, Giselher |
Published in: |
Business research : BuR ; official open access journal of VHB, Verband der Hochschullehrer für Betriebswirtschaft e.V. - Göttingen : VHB, ISSN 1866-8658, ZDB-ID 2426376X. - Vol. 3.2010, 2, p. 192-213
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