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首页> 外文期刊>Journal of business logistics >Pricing Dynamics in the Truckload Sector: The Moderating Role of the Electronic Logging Device Mandate
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Pricing Dynamics in the Truckload Sector: The Moderating Role of the Electronic Logging Device Mandate

机译：定价动力学在卡车船舶中：电子记录设备授权的调节作用

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摘要

Most truckload freight in the United States is priced using long-term contracts. It is widely recognized in industry that contract prices evolve based on prices shippers pay for one-time spot market transactions. This research examines whether the impact of spot market prices on contract prices has become more pronounced following the start of the electronic logging device (ELD) mandate. We draw on economic theories regarding how firms process information to explain why the ELD mandate, by reducing carriers' ability to artificially adjust capacity up or down as spot prices changed, should strengthen this relationship. To test this prediction, we construct a database that combines monthly proprietary spot market pricing data from DAT Solutions with monthly public contract pricing data from the Bureau of Labor Statistics. We test our predictions using time series regression and evaluate the robustness of our findings using both instrumental variable estimation and seemingly unrelated regression to rule out reverse causality. Consistent with our theorizing, we further this relationship has become more pronounced since the ELD mandate started. We explain the importance of these findings to theory and practice.
机译：美国的大多数卡车运费是使用长期合同的定价。它在行业中被广泛认可，合同价格根据价格托运人支付一次性现货市场交易。本研究审查了现货市场价格对合同价格的影响在电子测井设备（ELD）任务开始后变得更加明显。我们借鉴了经济理论，了解公司如何通过减少运营商在现货价格变化的情况下降低运营商的人为调整能力的授权，以解释为什么ELD任务的授权，应该加强这种关系。为了测试这一预测，我们构建一个数据库，将每月专有现货市场定价数据与劳动统计局的每月公共合同定价数据相结合。我们使用时间序列回归测试我们的预测，并使用乐器变量估计和看似无关的回归来评估我们的研究结果的鲁棒性，以排除反向因果关系。由于我们的理论，我们进一步的这种关系已经变得更加明显，因为我们的长期授权开始。我们向这些发现对理论和实践的重要性。

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