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Impact of Risk Aversion on the Decision of the Closed-Loop Supply Chain
Xianpei Hong
International Journal of Computer Science Issues , 2013,
Abstract: The closed-loop supply chain models under three different collecting channels (i.e., manufacturer collecting, retailer collecting, third-party collecting) were constructed. Three optimal decision models as decentralized decision-making systems with the manufacturer being the Stackelberg leader were analyzed. The impact of risk aversion on pricing decisions and expected profits of participants of the closed-loop supply chain was discussed. At last, using numerical analysis, the results of the three models were verified. The results show that with the risk aversion increasing, the retailer tends to reduce the retail price and the collecting parties tend to increase collecting price; in the case of other factors constant, with the participants risk aversion increasing, the expected profit often leads to decline.
Exploring disadvantageous inequality aversion in children: How cost and discrepancy influence decision-making  [PDF]
Amanda Williams,Chris Moore
Frontiers in Psychology , 2014, DOI: 10.3389/fpsyg.2014.01088
Abstract: This research examined disadvantageous inequality aversion in 4- and 6-year-old children. Using the resource allocation paradigm, we explored how inequality aversion was influenced by whether a cost was associated with the equitable choice. We also investigated whether preferences for equality differed depending on whether the inequitable choice presented a small or large discrepancy between the payoff of the participant and their partner. The results demonstrated that cost plays a large role in decision-making, as children preferred equality more when there was no cost associated with it compared to when there was a cost. Interestingly, the effect of cost also affected discrepancy, with children more likely to choose equality when the discrepancy was large as opposed to small, in cost trials but not in no cost trials. Finally, the effect of discrepancy also interacted with age, with older children being more sensitive to the discrepancy between themselves and their partner Together, these results suggest that children’s behaviour is not indiscriminately guided by a generalized aversion to inequality or established fairness norms. Alternate motives for inequality aversion are discussed.
Influence of risk aversion on different types of dual-channel supply chain decision

CHEN Liang
, HU Jin-song

- , 2018, DOI: 10.6040/j.issn.1671-9352.0.2017.584
Abstract: 摘要: 研究了3种风险规避型双渠道供应链的定价问题,探讨了风险规避系数和传统渠道单位销售成本的变化对各决策变量的影响,比较了不同类型双渠道间的定价策略。研究结果表明:制造商和零售商风险规避系数以及传统渠道单位销售成本的变化对最优决策变量和市场需求量有不同的影响;制造商应优先选择垂直集中双渠道结构。
Abstract: The pricing of three risk-averse dual-channel supply chains was studied. The impact of risk aversion coefficient and traditional channel sales cost on each decision variable was discussed, and the pricing strategies between different types of dual channels was compared. The results show that the risk aversion coefficient of manufacturers and retailers and sales cost of traditional channels have different effects on the optimal decision variables and market demand. Manufacturers should give priority to the vertically integrated dual-channel structure
Optimal decision-making for green supply chain considering retailers fairness concern and risk aversion

LIU Jing
, ZHOU Yan, ZHENG Ying-jie, WANG Chao-sheng

- , 2018, DOI: 10.6040/j.issn.1671-9352.0.2017.268
Abstract: 摘要: 为研究随机市场需求的绿色供应链问题,分别在零售商只考虑公平关切、只考虑风险规避及同时考虑公平关切和风险规避情形下, 建立绿色供应链博弈模型,研究了零售商的公平关切行为以及风险规避行为对绿色供应链最优决策的影响。研究结果表明: 与公平中性和风险中性时最优决策相比,零售商的公平关切行为、风险规避行为都会影响绿色供应链最优决策,且随着零售商公平关切和风险规避程度的增大,绿色产品最优批发价格、绿色度水平、零售价格、 绿色供应链各决策者期望利润及整体期望利润的变化都有规律性,在不同的产品绿色化效率下,存在着不同的变化趋势。
Abstract: To study the problem of a green supply chain with uncertain demand, the game models of the green supply chain considering only retailers fairness concern, only retailers risk aversion and both fairness concern and risk aversion were constructed. The impact of retailers fairness concern and risk aversion on the optimal decisions of manufacturer and retailer as well as the overall optimal decisions of the green supply chain are studied. The results show that retailers fair concerns and risk aversion influent the optimal decisions of the green supply chain comparing with those of fair neutral and risk neutral retail. The optimal decisions, expected profits and overall profit of the green supply chain change accordingly to the degree of retailers fairness concern and risk aversion, and the trends under the various green efficiency are different
The study of the supply chain network equilibrium model with retailers inequity aversion behavior

DUAN Zheng-yu
, ZHOU Yan, ZHANG Hua-min, XU Ming-jiao

- , 2017, DOI: 10.6040/j.issn.1671-9352.0.2016.408
Abstract: 摘要: 将行为经济学中的不公平厌恶引入供应链网络均衡问题, 构建了由多个公平中性的制造商、多个不公平厌恶的零售商及需求市场组成的供应链网络均衡模型。 基于不公平厌恶理论, 建立了考虑不公平厌恶的零售商效用函数; 利用变分不等式和互补理论, 得到网络中各决策者及整个供应链网络均衡的条件。 研究结果表明, 无论是零售商存在不利不公平厌恶还是有利不公平厌恶行为, 其效用都低于其公平中性时的最大利润, 且零售商的不公平厌恶程度越高, 其交易量和效用越低。 最后通过算例进行分析验证。
Abstract: The decision makers inequity aversion behavior was embedded into the supply chain network equilibrium problems. The supply chain network was composed of many equity-neutral manufacturers, inequity-averse retailers and demand markets. Based on the inequity aversion theory, the retailers utility function was established, and the equilibrium conditions of all decision-makers and the supply chain network were modeled based on the variational inequality and the complementary theory. The results show that the utility of the retailer, who has advantageous or disadvantageous inequity-averse behavior, is lower than that of the equity-neutral retailer. Moreover, the transaction quantity and the utility of the retailer both decrease with the increase of the inequity-averse coefficient. Finally, numerical examples are solved to prove the above conclusions
Buyback Contract Coordinating Supply Chain Incorporated Risk Aversion
Guangxing,Xin Deng,Yanhong Qin,Qing Wu
Research Journal of Applied Sciences, Engineering and Technology , 2013,
Abstract: This research studies the buyback contract of a supply chain system composed of a risk-neutral supplier and a risk-averse retailer. The buyback contract is divided into two cases, the credit for all unsold goods and the credit for a partial return of goods, which are theoretically analyzed and simulated numerically respectively. The results show that when the retailer is risk averse, the supply chain system is able to achieve coordination. The buyback price is an increasing function of and the buyback ratio is also an increasing function of, while the wholesale price is a decreasing function of the risk aversion.
Incentive Contract in Supply Chain with Asymmetric Information  [PDF]
Yingsheng Su,Hongmei Guo,Xianyu Wang
Discrete Dynamics in Nature and Society , 2014, DOI: 10.1155/2014/380142
Abstract: The supply chain always appears inefficient because of the different targets of members and information asymmetry, especially when upstream enterprises not only hide information about their effort levels, but also hide information about their technology level. The paper uses principal-agent theory and the theory of regulation to design the contract to realize the maximization of principal's profit on the condition that the contract satisfies the participant and incentive conditions of agent. As a result, it is obvious that the contract achieves the goal of control. In addition, it also can be concluded that the amount of rent that the manufacturer can obtain is up to the value of his information and the condition of his resource. 1. Introduction Supply chain is a network which can put suppliers, manufacturers, distributors, retailers, and final users together, which is characterized by the integration of external resources for cooperation networks. Supply chain performance depends on the joint benefit of the enterprises [1]. However, the supply chain always appears inefficient because of the different targets of members and information asymmetry. Therefore, an important issue in supply chain management is how to establish the appropriate coordination mechanism for the independent enterprises in order to achieve the maximization of the overall profit of the supply chain [2–8]. Because of information asymmetry, the difficulty of coordination increases [9]. Many contracts and pieces of literature have studied the coordination of supply chain from perspective of principal-agent problem, while, at the same time, various aspects of coordination in supply chain have been studied too, such as pieces of literature [10–16]. In practice, the effort level of retailers can affect products’ demand. Literature [17] puts the effort level and risk preference of decision-making of node enterprise into decision-making model and analyses their impact on the decision and cooperation of supply chain. The literature [18] investigates the issue of channel coordination for a supply chain facing stochastic demand that is sensitive to both sales effort and retail price. In the literature [19], a perishable product’s supply chain consisting of a manufacturer and a retailer is considered; on the premise of retailer’s effort and return price dependent demand, the mathematical models of quantity flexibility contract are established. The literature [20] analyses retailer’s effort level’s impact on supply chain revenue-sharing evolvement- contract and gain retailer’s effort level’s
An Intelligent Decision Support System for Supply Chain Integration
Tsai-Yun Liao,Fei-Sheng Hsu
International Journal of Electronic Business Management , 2004,
Abstract: The integration of supply chain has become an important aspect in business environment due to the various business competitive pressures. This research proposes an intelligent decision support system for supply chain integration to support a supply chain’s competitive strategy of and help an organization gain a competitive advantage. Three major issues and related information technologies (IT), including a multi-agent architecture, data cube technique, and an ANN-based system, are investigated to explore the integration of supply chain activities. A multi-agent based architecture is proposed to support the selection and negotiation of purchasing bids and assist the decision making. The concept of data cube is used to investigate the multidimensional data of ordering information and evaluate the decision criteria of purchasing and ordering processes. A system combines supplier selection evaluation and artificial neural network (ANN) technique is designed to evaluate and forecast the supplier’s performance.
Study on an Supply and Demand Network Node:Supply Chain Coordinated Management and Decision

XU Qi{,},XU Fu-yuan,

系统工程理论与实践 , 2003,
Abstract: This paper discusses theory and methodology of supply chain coordinated management and decision through decision analysis, decision support technology and method on supply chain. Finally, we make use of a case of manufacturer and distributor to study modeling for coordinated decision. Thus, in order to supply chain value added and short cost, coordinated decision for joint profit is very important.
Supply Chain Finance Decision Analysis with a Partial Credit Guarantee Contract  [PDF]
Yueliang Su, Baoyu Zhong
Journal of Applied Mathematics and Physics (JAMP) , 2017, DOI: 10.4236/jamp.2017.56112
Abstract: The innovation of supply chain financial services can alleviate the plight of SMEs financing difficulties. In the aspect of supply chain finance model, there is a credit guarantee financing model, which is different from the simple external financing and internal financing mode of supply chain. Based on this, this paper studies the decision-making of supply chain finance under the partial credit guarantee of core enterprises. First of all, the paper constructs a simple supply chain financing model, consisting of a bank, a core enterprise and a retailer. And then, considering the credit guarantee financing model, calculate the expected profit function. Stackelberg game model is used to give the optimal decision of each subject in decentralized system and the optimal decision in centralized system. Finally, in order to make a more specific and detailed study on the profit and decision-making based on the credit guarantee financing model, the important parameters of the model are analyzed. Through the calculation, it is proved that under the credit guarantee of the core enterprise, the retailer has the optimal ordering strategy, and the core enterprise has the best wholesale price. The influences of the partial credit guarantee coefficient and the retailer’s loan coefficient on the supply chain finance decision-making are also studied.
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