Analyzing Transactions Costs in Transport Corridors Using Multi Agent-Based Simulation

Abstract

In analyzing freight transportation systems, such as the intermodal transport of containers, often direct monetary costs associated with transportation are used to evaluate or determine choice of Transport Corridor. In forming decisions on Transport Corridor cooperation, this chapter proposes that transaction cost Simulation modelling can be considered as an additional determinant in conducting Transport Corridor analysis. The application of Transaction Costs theory in analyzing the organisational structures and the transactions that occur, assists in indicating as to which governance structure results in higher efficiencies. The use of Multi-Agent based Simulation for modelling the organisational structure and mechanisms provides a novel approach in understanding the organisational relationships in a regional Transport Corridor.