Xavier Brusset (IAG, Université Catholique de Louvain, Louvain la Neuve, Belgium) Nico Temme (Centrum voor Wiskunde en Informatica, Amsterdam, Netherlands)
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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 long-term 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.
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Paper provided by EconWPA in its series Econometrics with number
0512005.
Length: 30 pages Date of creation: 07 Dec 2005 Date of revision: Handle: RePEc:wpa:wuwpem:0512005
Note: Type of Document - pdf; pages: 30. A discussion of game theoretic behaviour of a transport service provider and a shipper when demand and price of transport can vary dependently. Contact details of provider: Web page: http://129.3.20.41
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