Strategies for agents participating in combinatorial auctions in the transportation planning of oil derivatives

Strategies for agents participating in combinatorial auctions in the transportation planning of oil derivatives

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Article ID: iaor2014542
Volume: 17
Issue: 3
Start Page Number: 261
End Page Number: 274
Publication Date: Mar 2014
Journal: International Journal of Logistics Systems and Management
Authors: ,
Keywords: production, game theory
Abstract:

Recent researches have shown that approaches based on the multiagent paradigm and market mechanisms like auctions are efficient in solving planning problems in supply chains (SC), which is characterised as a network of producers and consumers that enables gathering of raw materials, their transformation into products, and their distribution through the system. This paper uses the combinatorial auction mechanism, the multiagent paradigm, and heuristic strategies for SC agents take the decision of participating or not in auctions in order to negotiate and provide feasible solutions to the problem of transportation planning of oil derivatives. The main objective is to enlarge the scope of the application of combinatorial auctions in planning problems calculating them efficiently.

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