The Complexity Analysis for Price Game Model of Risk-Averse Supply Chain Considering Fairness Concern
Joint Authors
Yu-hao, Zhang
Yi-min, Huang
Li, Qiuxiang
Source
Issue
Vol. 2018, Issue 2018 (31 Dec. 2018), pp.1-15, 15 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2018-12-02
Country of Publication
Egypt
No. of Pages
15
Main Subjects
Abstract EN
This paper, considering risk aversion and fair concern, establishes a dynamic price game model of a dual-channel supply chain in which dual-channel retailer sells products through traditional channel and online channel and the online retailer only sells products through online channel.
The stability of the system and the influences of different parameter values on utilities are analyzed emphatically using game theory and nonlinear dynamic theory, such as 2D and 3D bifurcation diagram, parameter plot basin, chaos attractor, and sensitivity to initial value.
The results find that the system is more likely to lose stability and fall into chaos with the customer demand fluctuating greatly.
The system enters into chaos through flip bifurcation with the increase of the price adjustment speed; adjusting the risk-aversion levels or the fairness concern levels of the two retailers can make the system be in a stable state or delay the occurrence of system instability.
When the system is in chaos, the average utility of the online retailer will decrease and one of the dual-channel retailers will increase.
Using the state feedback control method, the system can return to a stable state from chaos by selecting appropriate control parameters.
The research of this paper is of great significance to the decision-makers’ price decision and supply chain operation management.
American Psychological Association (APA)
Yi-min, Huang& Li, Qiuxiang& Yu-hao, Zhang. 2018. The Complexity Analysis for Price Game Model of Risk-Averse Supply Chain Considering Fairness Concern. Complexity،Vol. 2018, no. 2018, pp.1-15.
https://search.emarefa.net/detail/BIM-1136585
Modern Language Association (MLA)
Yi-min, Huang…[et al.]. The Complexity Analysis for Price Game Model of Risk-Averse Supply Chain Considering Fairness Concern. Complexity No. 2018 (2018), pp.1-15.
https://search.emarefa.net/detail/BIM-1136585
American Medical Association (AMA)
Yi-min, Huang& Li, Qiuxiang& Yu-hao, Zhang. The Complexity Analysis for Price Game Model of Risk-Averse Supply Chain Considering Fairness Concern. Complexity. 2018. Vol. 2018, no. 2018, pp.1-15.
https://search.emarefa.net/detail/BIM-1136585
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1136585