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A Smart Market Solution to a Class of Back-Haul Transportation Problems: Concept and Experimental Testbeds

Brewer, Paul J. and Plott, Charles R. (2000) A Smart Market Solution to a Class of Back-Haul Transportation Problems: Concept and Experimental Testbeds. Social Science Working Paper, 1082. California Institute of Technology , Pasadena, CA. (Unpublished)

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Abstract: Back-haul problems occur in many areas of transportation. One way rental of equipment often takes it from an area of high demand to an area of low demand. Examples include container rentals, car rentals and other cases of mobile equipment. The problem is to return the equipment to the location of need. Typically this is viewed as an administrative and scheduling problem. The approach taken here is "decentralized" in which a specially designed market organizes competition and information to minimize the cost of back-hauls without the direct intervention of administrative negotiations or command-and-control types of scheduling. Laboratory experimental methods are employed to test the concept and explore its limitations.

Item Type:Report or Paper (Working Paper)
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Additional Information:Funding provided by the Caltech Experimental Economics and Political Science Laboratory and the United States National Science Foundation is gratefully acknowledged. Published as Brewer, P.J., & Plott, C.R. (2002). A decentralized, smart market solution to a class of back-haul transportation problems: Concept and experimental test beds. Interfaces, 32(5), 13-36.
Group:Social Science Working Papers
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Caltech Laboratory for Experimental Economics and Political ScienceUNSPECIFIED
Subject Keywords:Transportation: costs; Games/group decisions: bidding/auctions
Series Name:Social Science Working Paper
Issue or Number:1082
Record Number:CaltechAUTHORS:20170808-162232402
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:79982
Deposited By: Jacquelyn Bussone
Deposited On:09 Aug 2017 16:54
Last Modified:03 Oct 2019 18:26

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