Abstract
The last two decades have witnessed the successful application of revenue management (RM) strategies in many markets where the trading item is characterised by high perishability, as is the case with various types of service. Freight transportation service markets are a lessstudied area in the RM science. A particular attribute of such markets is their time criticality and short duration especially in case of adhoc shipments. This paper couples the properties of auctions and locationbased services in a whole. In particular, it aims to complement a RM strategy, introducing a conceptual marketplace. It also presents an evolutionary market learning approach for participants based on a structured series of auctionbased experiments. Next, it capitalises on these findings to interpret the bidders behaviour. Finally, it draws guidelines for the specification of auction parameters. Experimental results provide evidence for the convergence of price between carriers and shippers.
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