A Pareto-metaheuristic for a bi-objective winner determination problem in a combinatorial reverse auction
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Publication:336792
DOI10.1016/J.COR.2013.04.004zbMATH Open1348.90534arXiv1201.4342OpenAlexW2133961610MaRDI QIDQ336792FDOQ336792
Authors: Tobias Buer, Herbert Kopfer 
Publication date: 10 November 2016
Published in: Computers \& Operations Research (Search for Journal in Brave)
Abstract: The bi-objective winner determination problem (2WDP-SC) of a combinatorial procurement auction for transport contracts is characterized by a set B of bundle bids, with each bundle bid b in B consisting of a bidding carrier c_b, a bid price p_b, and a set tau_b transport contracts which is a subset of the set T of tendered transport contracts. Additionally, the transport quality q_{t,c_b} is given which is expected to be realized when a transport contract t is executed by a carrier c_b. The task of the auctioneer is to find a set X of winning bids (X subset B), such that each transport contract is part of at least one winning bid, the total procurement costs are minimized, and the total transport quality is maximized. This article presents a metaheuristic approach for the 2WDP-SC which integrates the greedy randomized adaptive search procedure with a two-stage candidate component selection procedure, large neighborhood search, and self-adaptive parameter setting in order to find a competitive set of non-dominated solutions. The heuristic outperforms all existing approaches. For seven small benchmark instances, the heuristic is the sole approach that finds all Pareto-optimal solutions. For 28 out of 30 large instances, none of the existing approaches is able to compute a solution that dominates a solution found by the proposed heuristic.
Full work available at URL: https://arxiv.org/abs/1201.4342
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Multi-objective and goal programming (90C29) Approximation methods and heuristics in mathematical programming (90C59) Combinatorial optimization (90C27) Auctions, bargaining, bidding and selling, and other market models (91B26)
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Cited In (7)
- Influence of non-price and environmental sustainability factors on truckload procurement process
- A survey of adaptive large neighborhood search algorithms and applications
- An exact method for the combinatorial bids generation problem with uncertainty on clearing prices, bids success, and contracts materialization
- Leader-based diffusion optimization model in transportation service procurement under heterogeneous drivers' collaboration networks
- Multiobjective combinatorial auctions in transportation procurement
- Bi-objective optimization method and application of mechanism design based on pigs' payoff game behavior
- Solving a dynamic combinatorial auctions problem by a hybrid metaheuristic based on a fuzzy dominance relation
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