The Complex Dynamics of Bertrand-Stackelberg Pricing Models in a Risk-Averse Supply Chain
Joint Authors
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-14, 14 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-05-18
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Abstract EN
We construct dynamic Bertrand-Stackelberg pricing models including two manufacturers and a common retailer in a risk-averse supply chain with the uncertain demand.
The risk-averse supply chain follows these strategies: Bertrand game between the two manufacturers and Stackelberg game between the manufacturer and the retailer.
We study the effect of the price adjustment speed, the risk preference, and the uncertain demand on the stability of the risk-averse supply chain using bifurcation, power spectrum, attractor, and so forth.
It is observed that there exists slip bifurcation when the price adjustment speed across some critical value, the stable region, and total profit of the risk-averse supply chain will increase with increase of RM1 and decrease with increase of σ.
The profit of the supply chain and the two manufacturers will decrease and the weaker (retailer) is a beneficiary when the supply chain is in chaos.
The fluctuation in the supply chain can be gradually controlled by the control of the price adjustment speed.
American Psychological Association (APA)
Ma, Junhai& Li, Qiuxiang. 2014. The Complex Dynamics of Bertrand-Stackelberg Pricing Models in a Risk-Averse Supply Chain. Discrete Dynamics in Nature and Society،Vol. 2014, no. 2014, pp.1-14.
https://search.emarefa.net/detail/BIM-495712
Modern Language Association (MLA)
Ma, Junhai& Li, Qiuxiang. The Complex Dynamics of Bertrand-Stackelberg Pricing Models in a Risk-Averse Supply Chain. Discrete Dynamics in Nature and Society No. 2014 (2014), pp.1-14.
https://search.emarefa.net/detail/BIM-495712
American Medical Association (AMA)
Ma, Junhai& Li, Qiuxiang. The Complex Dynamics of Bertrand-Stackelberg Pricing Models in a Risk-Averse Supply Chain. Discrete Dynamics in Nature and Society. 2014. Vol. 2014, no. 2014, pp.1-14.
https://search.emarefa.net/detail/BIM-495712
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-495712