Journal
TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW
Volume 81, Issue -, Pages 203-214Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.tre.2015.07.002
Keywords
Information sharing; Truckload transportation; Empirical transportation research
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This study explores the potential value to shippers of sharing load offers with carriers and obtaining carriers' responses in advance of the scheduled pickup date. Using a private transactional dataset from a large national shipper, we find that truckload spot prices increase considerably as the lead time before pickup decreases. As an extension of this empirical analysis, we develop a method to estimate near-real-time market prices, which does not currently exist in the truckload industry. A key insight is that market prices persist through time, meaning that current prices are good predictors of future prices. (C) 2015 Elsevier Ltd. All rights reserved.
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