Journal
TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW
Volume 90, Issue -, Pages 108-120Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.tre.2015.11.007
Keywords
Asymmetric information; Dual channel; Game theory; Risk averse; Supply chain
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Funding
- National Basic Research Program of China (973 Program) [2012CB315805]
- National Natural Science Foundation of China [71001035, 71471057, 71420107027, 71431008]
- Program for New Century Excellent Talents in University of China [NCET-13-0181]
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We investigated the effect of risk aversion on the optimal policies of a dual-channel supply chain under complete information and asymmetric information cases. We determined that the optimal value added only depends on the value-added cost. The optimal prices under a risk-averse case are lower than those in a risk-neutral case. Information asymmetry increases wholesale and retail prices but reduces direct sale price, and tends to engender inefficiency. The value of information increases with the mean of the manufacturer's estimation about the retailer's risk aversion. (C) 2015 Elsevier Ltd. All rights reserved.
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