Transport contract optimization under information asymmetry : an example
(2005)
Files
WP152BrussetTemmecomplet.pdf
Open Access - Adobe PDF
- 1.29 MB
Details
- Authors
- Abstract
- The present paper shows why information asymmetry and bivariate stochastic demand and spot price induce different behaviours and economic inefficiency in a carrier shipper relationship. An example is offered of a single period, single echelon, shipper-carrier transport model where demand addressed to the shipper and the spot transport price, two exogenous stochastic variables, follow a bivariate exponential probability distribution function. We evaluate the objective functions of the carrier and shipper over one period reiterated with a mix of longterm and short-term procurement strategies under five scenarios of information sharing. Some clues as to ways of solving for other types of bivariates are provided.
- Affiliations
Citations
Brusset, X., & Temme, N. M. (2005). Transport contract optimization under information asymmetry : an example (IAG Working Papers 2005/152). https://hdl.handle.net/2078.5/39153