Due to the increasing price pressure in the less-than-truckload (LTL) market, horizontal cooperation is an effective and efficient way for small- and medium-sized LTL carriers to enhance their profits by exchanging requests. For this purpose, a decentralized auction-based collaboration framework...

Inspired by Clower’s conjecture that the necessity of trading through money in monetised economies might hinder convergence to competitive equilibrium, and hence, for example, cause unemploment, we experimentally investigate behaviour in markets where trading has to be done through money. In...

Inspired by the conjecture that the necessity of trading through money in monetarised economies might hinder convergence to competitive equilibrium, and hence, for example, cause unemployment, we experimentally investigate behaviour in sequential markets. In order to evaluate the properties of...