Table of Content

25 July 2024, Volume 32 Issue 7 Previous Issue    Next Issue

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Bayesian Equilibrium Analysis with Information Asymmetry and Credit Guarantee Xiang Liu,Zhaojun Yang,Suhua Liu 2024, 32 (7):  1-10.  doi: 10.16381/j.cnki.issn1003-207x.2021.1522 Abstract ( 249 )   HTML ( 23 )   PDF (2178KB) ( 379 )   Save Micro-， Small and Medium-sized Enterprises （MSMEs） are the backbone of science and technology invention and social productivity improvement， which are crucial to development strategies of a country. The 2019 central economic work congress of China delivered five signals， one of which is to increase the support for high-tech enterprises. Financing for MSMEs is difficult and expensive over the world. The fundamental reason lies in asymmetric information between borrowers and lenders on investment profitability. Although there are many theories of credit guarantee and corporate finance in the literature， there is no academic research to quantify how information asymmetry impacts on the existing credit guarantee methods， say the fee-for-guarantee swaps （FGSs）， equity-for-guarantee swaps （EGSs） and option-for-guarantee swaps （OGSs）. A single-period model for an MSME is developed to start a project. The enterprise must borrow to start the project from a bank after entering into an FGS， EGS or OGS agreement with an insurer. A credit guarantee pricing method is proposed. Bayesian game theory is used to characterize FGSs， EGSs and OGSs. The novelties of the paper are summarized as follows. The degree of the negative influence of information asymmetry on three different guarantee swaps is different. The effect is highest for OGSs， the second highest for EGSs and the lowest for FGSs agreement. High-profit enterprises may transfer their part of profits to insurers instead of low-profit ones to prevent the imitation of low-profit enterprises. Surprisingly， it is possible that the net present value of a high-profit enterprise would increase with the investment cost. Information asymmetry does not surely lead to the loss of social welfare. Figures and Tables | References | Related Articles | Metrics

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Does the Household Registration Relaxation Policy Promote Housing Price Growth? Lei Xiao,Chenxi He,Guoxiang Lu 2024, 32 (7):  11-18.  doi: 10.16381/j.cnki.issn1003-207x.2021.0296 Abstract ( 143 )   HTML ( 7 )   PDF (4534KB) ( 272 )   Save The implementation of the household registration relaxation policy has positive effect on economic and social development. However， does the household registration relaxation policy promote the growth of housing price？ The academic discussion is still controversial. Due to differences in development foundation and resource endowment， the performance of different city may also vary. Therefore， it is of great significance to accurately evaluate the long-term and short-term dynamic disposal effect and urban differences of the settlement easing policy on housing price growth， as well as the factors affecting the disposal effect.Firstly， the research object is set as 70 large and medium-sized cities， and an HCW model based on machine learning Lasso method is used to evaluate the policy disposal effect of relaxation of household registration on housing price growth. Next， stepwise regression method is used to analyze the influencing factors of policy disposal effects. Finally， policy recommendations are proposed based on empirical conclusions. The data is sourced from CENET Industry Database， and relevant information about the household registration relaxation policy is sourced from the official websites of the people's governments of various cities.From our results， the following conclusions are drawn. First， in the short term， the policy does not increase the growth rate of housing prices. In the long term， the policy increases the growth rate of housing prices， but the improvement effect is limited. Second， the disposal effects of various cities exhibit significant differentiation characteristics， which are related to factors such as medical construction level， transportation convenience， urban land occupation size， and climate environment. Finally， the household registration relaxation policy should be implemented “according to the city”.The application field of the HCW policy evaluation model is expanded， the research on the influencing factors of housing prices is deepened， micro level Empirical evidence is provided for the in-depth implementation of the settlement easing policy， and there is important practical significance for the reform of the registered residence system and the steady and healthy development of the real estate industry under the background of “housing without speculation”. Figures and Tables | References | Related Articles | Metrics

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How does Enterprise Digitalization Affect Enterprise Leverage? Xiaohui Chen,Hongwei Zhang,Wen Chen 2024, 32 (7):  19-27.  doi: 10.16381/j.cnki.issn1003-207x.2021.0936 Abstract ( 138 )   HTML ( 5 )   PDF (1859KB) ( 244 )   Save In 2021， the development of the digital economy was incorporated into the outline of the 14th five-year plan. The digital economy includes digital industrialization and industrial digitization. Industrial digitization refers to the digital transformation of enterprises based on digital technology. The digital economy is becoming an important engine of China's economic growth， and consequently， the enterprise digitization level has become a micro variable that drives China's economic growth. Enterprise digitalization is inseparable from financial support. External financing is an essential choice for enterprises to obtain financial aid. Therefore， the enterprise digitization level may also affect enterprise leverage.How will the enterprise digitization level affect enterprise leverage？ This level is introduced into the production function of the representative enterprise， and the functional relationship between the enterprise digitalization level and enterprise leverage is obtained. Based on the theoretical derivation， the research hypothesis is presented. The National Bureau of statistics， as well as the CSMAR and Wind databases are utilized to conduct an empirical test. The impact of the enterprise digitization level on enterprise leverage and its mechanism can be examined. The results show that， first， there is a positive U-shaped nonlinear relationship between the enterprise digital level and the enterprise leverage： there is an inflection point at the enterprise digital level， and when it is lower than the inflection point， the improvement of the digital enterprise level will reduce the enterprise leverage. Beyond the inflection point， the improvement of enterprise digitization level will improve enterprise leverage. Second， there is a "positive U" nonlinear relationship between the enterprise digitization level and enterprise leverage because the former has profit inhibition and mortgage enhancement effects.On the one hand， enterprise digitalization improves labor productivity and enterprise profitability. According to the priority financing theory， the stronger the profitability， the more endogenous the financing available to the enterprise， the smaller the demand for debt financing， and the lower the enterprise leverage. This is the profit inhibition effect. On the other hand， enterprise digitalization has increased the proportion of fixed assets. Compared with intangible assets， the value of fixed assets is easier to measure and realize. This means that the higher the proportion of fixed assets， the better the collateral quality of the enterprise， and the smaller the degree of information asymmetry with banks. Moreover， it is easier for enterprise to obtain the debt funds of financial institutions such as banks， and thus the enterprise leverage is greater. This is called the mortgage enhancement effect.The findings of this article has reference significance for studying the economic impact of industrial digitization from the micro level， and also has certain reference value for studying the impact of enterprise digitization on the enterprise risk-taking. Figures and Tables | References | Related Articles | Metrics

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Research on Data Value Based on Demand Forecast of Online Medical Platform Yue Zhao,Yanzhi Wang,Jie Song,Xuan He 2024, 32 (7):  28-36.  doi: 10.16381/j.cnki.issn1003-207x.2022.0562 Abstract ( 158 )   HTML ( 1 )   PDF (1783KB) ( 224 )   Save The rapid development of digital technology has advanced global digitalization. As a vital resource for driving economic growth， the value assessment of data has not yet formed a unified paradigm. With the expansion of data scale， the data quality disparity and data distortion urgently need to be addressed. The valuation of data is considered beneficial for evaluating data quality， filtering out distorted data， and promoting data trade， making its importance self-evident. In this paper， an online medical platform is used as the context， and the Shapley value method is employed to evaluate the value of data in doctor-patient matching. The efficiency of data value on the platform is intended to be improved through the data valuation results. First， the demand of doctors for the next year is predicted through the historical characteristics of doctors and the XGBoost model. Second， an operational profit function of hospitals based on the prediction results is constructed according to the online service mode of the medical platform， forming a value chain of data， model， and benefit. Finally， the Shapley value is used to assess data value， the effectiveness of the value assessment method is validated， and the characteristics of high-value data on the platform are analyzed. It is found that data value can be captured according to the task by the Shapley value. Cost reduction and efficiency increase of the model can be realized by filtering data based on the Shapley value， then enhancing the efficiency of application of data. Additionally， false data on the platform can be find， improving data quality. Therefore， appropriate valuation of data is seen as beneficial for better business understanding of the platform and enhancement of the efficiency of data. Figures and Tables | References | Related Articles | Metrics

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Individual Accounts of Basic Pension:Funded or Unfunded? Yunlong Li,Jiaxuan Zhan,Xiaojun Wang 2024, 32 (7):  37-44.  doi: 10.16381/j.cnki.issn1003-207x.2021.1119 Abstract ( 122 )   HTML ( 1 )   PDF (1479KB) ( 177 )   Save The basic pension in China is based on the combination of social pooling and individual accounts， in which the fund model of individual accounts involves the protection of pension accrued rights and pension benefits. However， the government is still considering whether individual accounts should be funded or unfunded. The existing research supporting the funded individual accounts argues that it is better to cope with the aging of the population and that the ownership of individual accounts should be vested in individuals. Scholars who hold opposing views believe that unfunded individual accounts have higher transition costs， which leads to greater pressure on national finance.Through the model and empirical analysis， theoretical support for whether the individual account needs to be funded is provided. In demography， the continuous time OLG model rather than the multi-generation OLG model can depict the dynamic changes in population structure， resulting in better interpretability of the results. With the help of the continuous time OLG model， the model conditions are explored to improve individual accounts. Given the constraints of the funds needed to improve the individual account， the financial pressure faced by the government is simulated under different parameter assumptions and it is concluded that there will be huge financial pressure in the next 5-20 years. Adopting the unfunded and bookkeeping individual account， and setting appropriate account parameters can protect individual accrued and pension benefits and maintain the long-term financial sustainability of the system. Figures and Tables | References | Related Articles | Metrics

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The Effects of Anti-dumping on China's Export from the Perspective of Enterprise Heterogeneity Yu Zhang,Xiang Gao,Junrong Zhang,Cuihong Yang 2024, 32 (7):  45-53.  doi: 10.16381/j.cnki.issn1003-207x.2021.1723 Abstract ( 108 )   HTML ( 2 )   PDF (2024KB) ( 208 )   Save The anti-dumping measures are critical trade barriers to China’s export， the United States is the major country conducts anti-dumping investigation against Chinese companies， and the export-oriented companies are important participants for China participating in the international economic cycle. Thus， it is of great theoretical and practical significance to investigate the effects of US anti-dumping measures on the exports of China’s enterprises. Moreover， since different types of enterprises owns various abilities in risk aversion， resilience， and dealing with the trade barriers， further research on the impact of anti-dumping measures on different types of enterprises will provide an important reference for policymakers and entrepreneurs.By matching the Chinese Industrial Enterprise Database and the Global Anti-dumping Database， the effects of US anti-dumping measures on the exports of China’s enterprises are investigated， distinguishing the heterogeneities between enterprises with different business size， ownership， and locations.The empirical findings show that the US anti-dumping measures not only significantly declined the export value of China’s enterprises， but also significantly reduce their export probability. When distinguishing the enterprise heterogeneities， first， the US anti-dumping measures has larger negative effects on the export probability of small and micro enterprises than that of large and medium-sized enterprises. Secondly， it also generates larger negative effects on the export value of state-owned enterprises than that of private enterprises and foreign-funded enterprises. In the end， it’s negative effects on export value and export probability is highest for enterprises located in western region， followed by that located in eastern region and central region. Figures and Tables | References | Related Articles | Metrics

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Research on the Risk Management Incentive Effect of Financial Institutions' Early Intervention in PPP Projects Xiaoxue Zhang,Jicai Liu 2024, 32 (7):  54-64.  doi: 10.16381/j.cnki.issn1003-207x.2021.2643 Abstract ( 122 )   HTML ( 1 )   PDF (2171KB) ( 192 )   Save As the primary fund provider of PPP projects， financial institutions need to bear substantial economic losses when risks occur in the project. But they rarely participate in the project's risk management process， which is not conducive to reducing the possibility of risk events and promoting the smooth implementation of PPP projects. As many stakeholders as possible should be involved in the risk management process of a project. As essential stakeholders of PPP projects， financial institutions participating in the project's risk management process can not only meet their own needs to reduce risk losses but also increase the experience of project risk management and improve the ability of project risk management. Therefore， the risk management incentive effects of financial institutions' early intervention in PPP projects is studied. Based on the principal-agent theory， the dual principal-agent model in which financial institutions intervene in the planning stage of PPP projects early and the single principal-agent model in which financial institutions do not intervene early are constructed. The results show that the dual principal-agent model under the scenario of financial institutions' early intervention can enhance the government's incentive intensity and improve private investors' risk management and non-risk management efforts. In addition， the expected level of utility gained by the government and the expected level of utility gained by financial institutions has been increased. The findings are conducive to mobilizing financial institutions' enthusiasm to participate in PPP projects， rationally plan projects， actively participate in project risk management， and promote the successful implementation of projects. Figures and Tables | References | Related Articles | Metrics

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Best-worst Multi-criteria Decision-making Method with Decision Maker's Preference Adjustment Willingness under Distributed Multiplicative Preference Environment Rongqing Yang,Xiaoan Tang,Qiang Zhang,Ting Huang 2024, 32 (7):  65-75.  doi: 10.16381/j.cnki.issn1003-207x.2021.1586 Abstract ( 139 )   HTML ( 7 )   PDF (2373KB) ( 270 )   Save Comparison matrices show sound performance when representing the outcomes of pairwise comparisons coming from decision-makers. Over the past decades， numerous researchers have investigated multi-criteria decision-making with different forms of comparison matrices， including multiplicative preference relations， interval multiplicative preference relations and hesitant multiplicative preference relations. But one can also note there are situations where the outlined comparison matrices fail to record decision-makers’ preference information. To address the limitations of the aforesaid preference relations， this study focusses on the multi-criteria decision-making problem under distributed multiplicative preference environment. First， a new way of pairwise comparison called distributed multiplicative preference relations is introduced to address the hesitation on the linguistic term selection of decision makers when they use linguistic variables to depict their preference information of one criterion over another， and the case where decision makers show tendencies to provide some specific degrees on certain linguistic terms in multiplicative preference multi-criteria decision-making. This newly-introduced preference relation not only inherits the superiority of multiplicative preference but also can handle the hesitation of decision makers on the problem of linguistic term selection when being used to express the preferences over criteria. Then， an improved Best-Worst Method （BWM） with distributed multiplicative preferences is proposed by considering decision maker’s preference adjustment willingness to overcome such limitations as the neglect of decision maker’s willingness， the high computational burden， and the complicated consistency adjustment process of the traditional BWM in managing inconsistent multiplicative preferences. The improved BWM can achieve a predetermined consistency level efficiently in the setting of retaining the original preferences of decision makers to the greatest extent. Finally， a commercial vehicle purchase decision problem is analyzed by using the proposals to demonstrate their feasibility and validity in practice. Figures and Tables | References | Related Articles | Metrics

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Production Decision of Manufacturer Considering By-product Synergy under Environmental Tax Policy Yongjie Dong,Chenguang Liu,Mengyuan Zhao 2024, 32 (7):  76-83.  doi: 10.16381/j.cnki.issn1003-207x.2021.1705 Abstract ( 104 )   HTML ( 3 )   PDF (1957KB) ( 202 )   Save With the increasing pressure of resources shortage and environmental pollution， the government and manufacturer are seeking measures to promote the sustainable development of economy. By-product synergy （BPS） is an effective way to achieve waste utilization and resources conservation. To encourage manufacturer to consider resource utilization of waste， environmental tax policy is designed by government. It aims to investigate the optimal production decision of manufacturer with the consideration of BPS and environmental tax policy in this paper.A manufacturer is considered that produces prime product A and generates a certain proportion of waste which may cause environment pollution. The government levies environmental tax on manufacturer to improve waste treatment and reduce environmental impact. Besides discharging waste into environment and paying the tax to the government， the manufacturer can also invest to implement BPS and convert waste into by-product B which will be sold in another market. Considering two cases：the manufacturer does not implement BPS， the manufacturer implements BPS，Stackelberg game models of the government and the manufacturer are established. As the leader， the government makes decision on tax rate to maximize social welfare， while the manufacturer decides the quantity of the prime product and by-product. The backward induction method is applied to get the equilibrium solutions of the models. By comparing the two cases， the impact of by-product synergy strategy of manufacturer on social welfare and environmental benefits is analyzed. Whether the manufacturer would choose BPS strategy under environmental tax policy is also discussed.The results show that　the environmental tax will reduce the waste emissions of manufacturer by reducing the output of prime product and accelerate the utilization of waste by increasing the output of by-product. When the environmental damage cost is relatively small， the government will be inclined to set higher tax to stimulate manufacturer to implement BPS. When the manufacturer chooses BPS strategy， the social welfare and environmental benefits are better than that without BPS. So， BPS strategy is always conducive to environmental protection and social welfare improvement. The tax policy may affect the choice of manufacturer about BPS strategy. There is a threshold value of investment cost coefficient. When the investment cost coefficient is less than this value，the profit of manufacturer will be always improved if BPS strategy is chosen. On the contrary， when the coefficient is greater than this value， BPS strategy may not be chosen because the profit of the manufacturer who chooses BPS strategy may decrease when the environmental damage cost of waste is moderate. Figures and Tables | References | Related Articles | Metrics

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Model and Algorithm on Stochastic Scheduling Problem with Activity Overlapping Zihao Chu,Zhe Xu,Dongning Liu 2024, 32 (7):  84-94.  doi: 10.16381/j.cnki.issn1003-207x.2021.0481 Abstract ( 113 )   HTML ( 0 )   PDF (2416KB) ( 172 )   Save Overlapping can not only effectively reduce the duration of R&D projects， but also decline the risk of R&D failure owe to finding the existing problems in time through the early exchange of information between upstream and downstream activities. In the project scheduling problem with activity overlapping， the uncertainty of activity duration will lead to uncertain overlapping time， uncertain overlapping amount， and uncertain rework time of downstream activities. The stochastic project scheduling is studied with activity overlapping which is NP-hard. Firstly， a multistage decision process model is established to describe the stochastic scheduling process with activities executing in overlapping way and uncertain activity durations. Then， a two-stage GA-rollout algorithm combining open-loop and close-loop policy is designed. A unique chromosome coding and decoding approach is embedded in the GA algorithm to select effective overlapping activities. And the initial solution obtained by GA is used as base policy， and then further optimized by rollout strategy. Finally， through the large-scale experimental study and the comparative analysis of the solution quality of different algorithms， the good performance of our GA-Rollout algorithm is verified. Figures and Tables | References | Related Articles | Metrics

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Research on Assignment Optimization of PC Components Mixed-flow Production Based on MO-CGJaya/D Algorithm Heping Wang,Dengyu Zhao,Mengkai Chen,Yan Li 2024, 32 (7):  95-105.  doi: 10.16381/j.cnki.issn1003-207x.2021.2301 Abstract ( 76 )   HTML ( 0 )   PDF (2415KB) ( 122 )   Save As the core of prefabricated construction projects， PC components are generally produced in the mixed production mode. In other words， several different types of components are produced on one production line at the same time. The current research is mostly based on the mixed production mode of the single production line. However， the mixed production mode of multiple production lines is often adopted in the actual production process of enterprises. Some scholars simply equate the mixed-flow production of multiple production lines with the parallel production mode of multiple machines， which ignores the functional difference among production lines. In consideration of the shortcomings of PC component production scheduling optimization research in the production scheduling of special-shaped component and non-special-shaped component assembly line， it is proposed to study the PC component production job assignment optimization problem under the mixed-flow production mode of multiple production lines. Firstly， according to the reality about the different production line models of special-shaped PC components and non special-shaped PC components as well as five objectives， such as production completion time， production cost and production line utilization， the PC component production assignment optimization model under the mixed production mode of multiple production lines is constructed. Then， in order to solve this kind of many-objective optimization problem， a MO-CGJaya/D algorithm is proposed. The algorithm is combined with chaos initialization and Gaussian mutation operation under the framework of decomposition strategy， which enhances the ability of the algorithm to jump out of local optimization and improves the solution efficiency at the same time. Through the DTLZ series function test as well as the comparison with NSGA Ⅱ algorithm， NSGA Ⅲ algorithm and MOEA/D algorithm， the performance of MO-CGJaya/D algorithm is verified. Finally， the survey data of a prefabricated component manufacturing enterprise is taken as an example. The MO-CGJaya/D algorithm is adopted to solve the model. Through the comparison with the existing production scheduling scheme based on the single machine scheduling model， it is showed that the model proposed in this paper can effectively help prefabricated component manufacturers arrange the job assignment of PC components reasonably and play a guiding role in the production practice of prefabricated component manufacturers. Figures and Tables | References | Related Articles | Metrics

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Research on Collaborative Distribution Model Considering Distribution Capability Constraints of Enterprises and Its Influence on Cost Allocation Weizhen Rao,Xiaohe Miao,lu Liu 2024, 32 (7):  106-116.  doi: 10.16381/j.cnki.issn1003-207x.2021.1660 Abstract ( 134 )   HTML ( 4 )   PDF (2580KB) ( 182 )   Save Delivery vehicles are limited resources in firms with capital-intensive assets， such as distribution enterprises， which must guarantee high availability and revenue returns. Collaboration via resource sharing among distribution enterprises provides an opportunity to effectively increase the efficiency and sustainability of logistics operations. However， the limitation of the available vehicle capacity will possibly lead to the shortage of distribution capacity and even the failure of collaboration in the distribution process.This problem is modelled as an integer programming which minimizes vehicle routing costs， fixed costs， and possible vehicle rental costs for sub-alliances， named the multi-owner collaborative vehicle routing problem model with limited distribution capability. A vehicle make-up strategy is developed for supplementary vehicles. It allows enterprises with insufficient vehicles to first seek available capacity from members with idle vehicles within the alliance. If their capacity is still not met， vehicle-leasing decisions from other distribution companies outside the alliance must be taken， while paying higher rents as result. Through the vehicle make-up strategy， the cost can be accurately quantified with the model and then a fair and reasonable allocation result is obtained. Then， the Shapley value equation is applied to determine the cost to be shared by each member.Our numerical study on a testbed of instances demonstrates the value of vehicle make-up strategy and the benefits of collaboration. The collaborative distribution leads to significant savings for all members， with a cost reduction of 13.34% to 20.84% compared with individual delivery， even when each alliance members lease a higher-cost vehicle， the total cost savings can reach 12.62% to 19.41%. The benefits of first seeking inside the alliance to find idle vehicles， which are rarely discussed in previous articles， are obvious with a reduction of the additional expenses triggered by vehicle shortages. The numerical results demonstrate that it is still profitable for firms to join collaborative distribution even the delivery capacity is insufficient and need to pay higher rents to lease vehicles. Furthermore， collaboration shows to be particularly attractive for enterprises with high facility reserves， obtaining extra awards through additional cost reduction.The research results have important reference value and practical significance for distribution enterprises who adopt collaborative distribution mechanism and corresponding cost allocation with considering the insufficient vehicle capacity. Figures and Tables | References | Related Articles | Metrics

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The Authorized Sales and Market Encroachment Strategies of the Software Developer in Software Service Supply Chains Tinghai Ren,Maosen Zhou,Nengmin Zeng 2024, 32 (7):  117-128.  doi: 10.16381/j.cnki.issn1003-207x.2021.1625 Abstract ( 127 )   HTML ( 5 )   PDF (2739KB) ( 233 )   Save Currently， many software developers （such as SAP， Oracle， etc.） not only sell software to client enterprises through downstream service providers （such as Accenture， Deloitte， etc.）， but also directly sell it to clients. However， in the field of software service supply chain management （SSSCM）， there is a lack of research on the channel encroachment of software developers. In this study， a software service supply chain （SSSC） with a software developer， a service provider and client enterprises is considered. The clients can either purchase software （developed by the software developer） from the provider with a high price and additional pre-sale services， or directly purchase it from the developer with a low price but without pre-sale service. After purchasing the software， the clients can also purchase the extended warranty service from the developer.The two cooperation modes of “authorization” and “authorization + direct sales” are studied between the developer and the provider， and the equilibrium decision-making of SSSC members and the SSSC performance is compared in the two cooperation modes. It is found that the sales volume of software products and extended warranty services in the “authorization” model is less than that in the “authorization + direct sales” model； thus， the channel encroachment of the developer can increase the sales of software products and extended warranty services. In addition， the developer’s software product sales profit is higher than that in the “authorization + direct sales” model， but the extended warranty service sales profit is lower than that in the “authorization + direct sales” model； thus， the channel encroachment will reduce the developer's software product sales profit， but it can increase that of the developer's extended warranty service. Also it is found that when the intensity of competition between the two parties is weak and the market size occupied by the developer is small， the profit of the provider and the total profit of the SSSC are lower than those in the “authorization + direct sales” model； thus， the channel encroachment of the developer can increase the profit of the provider and the total profit of the SSSC. However， when the competition intensity is weak and the market size occupied by the developer is large （or when the competition intensity is strong）， the profit of the provider and the total profit of the SSSC are higher than those in the “authorization + direct sales” model， and the channel encroachment will not only cause the profit loss of the provider， but also the performance loss of the SSSC. Figures and Tables | References | Related Articles | Metrics

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Research on Joint Reserve and Allocation of Multiple Emergency Medical Materials under Uncertain Demands Yao Zhang,Yuwei Zhang,Zhenping Li,Yuwen Wu 2024, 32 (7):  129-137.  doi: 10.16381/j.cnki.issn1003-207x.2021.0711 Abstract ( 134 )   HTML ( 2 )   PDF (1724KB) ( 243 )   Save Considering the uncertain demands for medical materials at each demand point after the public health emergencies， the joint reserve and allocation problem of multiple kinds of emergency medical materials is studied with limited reserve capacity based on the condition that the demand for each kind of medical materials at each demand point obeys the independent and uniform distribution. A two-stage stochastic programming model for the joint reserve and allocation of multiple medical materials is established， the objective function is to minimize the total cost including the inventory cost of the reserve medical materials and the total expected shortage cost at each demand point. Given the parameters of demand probability distribution， the two-stage stochastic programming model is transformed into a deterministic convex quadratic programming model. The properties of the optimal solution are proposed and proved， then the optimal solution is analytical expressed. Finally， the influence of the reserve capacity change on the optimal reserve and allocation solution is analyzed， and the effectiveness of the proposed method is verified by simulation on an example generated from practical data. It provides a decision-making basis for solving the practical multiple medical materials joint reserve and allocation problem in this paper. Figures and Tables | References | Related Articles | Metrics

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Yield or Go?Evolutionary Game Analysis of Pedestrian and Autonomous Vehicle Conflicts Xusheng Yao,Shoufeng Ma,Shunqiang Ye,Shuai Ling 2024, 32 (7):  138-149.  doi: 10.16381/j.cnki.issn1003-207x.2021.1576 Abstract ( 131 )   HTML ( 3 )   PDF (2089KB) ( 157 )   Save Over recent years， traffic authorities in many countries have begun to approve autonomous vehicles for real-world road testing， and autonomous vehicles are gradually becoming one of the real travel options. However， the full realization of driverless is a gradual process， during which there will inevitably be a mixed situation of multiple forms of traffic. The most complex issue in this context is the interaction with pedestrians， a vulnerable traffic segment. Their movement trajectories are rather random and their actions are difficult to predict， which may lead to an increase in traffic accidents and cause considerable difficulties in traffic management. Considering that autonomous vehicles are different from traditional vehicles， it takes time for pedestrians to accept and adapt to autonomous vehicles， and autonomous vehicles also need to constantly update and optimize their strategies in the interaction with other traffic agents. Therefore， it is an urgent and important issue to analyze the pedestrian-vehicle interaction mechanism under driverless scenario from the perspective of evolutionary game and propose appropriate solutions to improve the traffic efficiency. Specifically， the crossing behavior of autonomous vehicles and pedestrians at unsignalized intersections is analyzed， and concepts are introduced such as pedestrians’ trust of driverless， loss spillover of autonomous vehicle conflict， and communication between pedestrians and vehicles. From the perspective of evolutionary game theory， a game matrix between the two parties is constructed. Then a dynamic model of the mutual evolution was established， and conclusively the stable strategies of the two parties' crossing behavior were obtained. The results show that the strategy choice of pedestrians and autonomous vehicles is closely related to the level of pedestrians’ trust of driverless and loss spillover of autonomous vehicle conflict. Under different parameter conditions， the system has multiple stable equilibriums. Besides， the introduction of the communication mechanism can eliminate the negative effects brought about by technological distrust to a certain extent， and promote the evolution of the game in the direction of the goal. Finally， the validity of the model is verified through simulation and gives management implications to promote the development of driverless. Managerial insights are provided from three perspectives： technology advocacy， media coverage and standard setting， with the aim of shedding new lights on the development of the autonomous vehicles industry. Figures and Tables | References | Related Articles | Metrics

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Online and Offline Collaborative Omnichannel Retail Supply Chain System Robust Control and Optimization Chenchen Ge,Jianjun Zhu 2024, 32 (7):  150-162.  doi: 10.16381/j.cnki.issn1003-207x.2021.1603 Abstract ( 151 )   HTML ( 6 )   PDF (2446KB) ( 237 )   Save Technological innovation and consumption upgrades have accelerated the rapid development of the “new retail” omnichannel model. With the implementation of this model， a large number of enterprises blindly added new online channels and excessively imitate business model， resulting inoffline mismanagement， overstocked inventory， and high online return rate.Therefore， how to integrate the advantages of offline and online channel， expand the integrated and intelligent omnichannel layout， and meet the personalized and seamless interactive experience of consumers has become a difficult problem that needs to be solved urgently by the industry and academia. Focusing on these questions， ROPS（Reserve-Online-Pick-up-and-pay-in-Store） and BORP（Buy-Online-and-Pick-up-in-Store） strategies are integrated to build a state feedback control model for the omnichannel retail supply chain system， and four strategy models are compared： N-BR （do not adopt BORP and ROPS）， Y-B （adopt pure BORP）， Y-R （adopt pure ROPS）， Y-BR （integrate BORP and ROPS）. Further， the influence of consumer channel preferences， cross-channel delivery and return parameter uncertainty on supply chain system inventory， production/ordering and profit is investigated， and the bullwhip effect suppression method is studied based on Lyapunov stability theory and linear matrix inequality algorithms. The results show that： （1） Omnichannel retail companies should regard consumer channel preferences as their characteristics， and balance the profits of manufacturers and retailers； （2） Y-BR strategy will cause a certain risk of out of stock and retailers should rationally design specific configuration conditions for adopting BORP and ROPS to increase profit；（3） Retailer's profit depends on the pick-up rate. If the offline pick-up rate is too high， it will cause a serious loss in the retailer's profit； （4） Robust optimization control effectively suppresses the bullwhip effect. This research improves the operating efficiency and profits of new retail enterprises， increases the core competitiveness of physical retail stores， and provides a certain theoretical basis and practical value for the transformation and development of omnichannel retail enterprises. Figures and Tables | References | Related Articles | Metrics

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Multi-objective Bi-level Research on Decision-making of Power Retailers Considering Dual Uncertainty and User Disutility Yeming Dai,Xilian Sun,Yao Qi,Jinpeng Duan 2024, 32 (7):  163-171.  doi: 10.16381/j.cnki.issn1003-207x.2021.1504 Abstract ( 98 )   HTML ( 1 )   PDF (1739KB) ( 76 )   Save With the liberalization of market access for electricity retail， different kinds of power companies have entered the electricity market. The trading mechanism of electricity retail market has been a focus. A multi-objective bi-level stochastic optimization modelwith nonlinear constraints is developed to study the decision of electricity retailer considering the influence of disutility of users under demand response. The uncertainty of day-ahead pricing and renewable energy generation are also taken into account.The retailer'sprofit maximization and the users' cost minimization are defined as the upper-layerand lower-layer problem of developed bi-level model， respectively.Then an improved GA algorithmis used to solve this model.The electricity sales of electricity retailers in each market are defined as individuals in the GA population， and the expected revenues of electricity retailers are used as the fitness functions.The Monte Carlo method is used to generate different scenarios， and simulation analysis is carried out under these different scenarios.Finally， the developed model is verified with real data from the US PJM market.It can be seen from the simulation results that after the implementation of DR， the decision model constructed in our paper can effectively balance the power load of users at various times of one day， and the use of the negative utility mechanism can effectively avoid peak-valley transfers and reduce the electricity cost of users.Energy storage equipment and renewable energy power generation equipment have significantly improved the revenue of electricity retailer， while the impact of uncertain factors such as price fluctuations in the spot marketand the randomness of renewable energy output can be alleviated.Specially， the users' negative utility cost function in the renewable energy power generation scenario is considered， which provides a new idea for studying users' electricity consumption behavior. Figures and Tables | References | Related Articles | Metrics

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Research on Collaborative Pricing Strategy of Multi-mode Shared Mobility Platform with Consideration of Passenger Utility Xiang Li,Yanan Li,Hongguang Ma 2024, 32 (7):  172-180.  doi: 10.16381/j.cnki.issn1003-207x.2021.1370 Abstract ( 180 )   HTML ( 6 )   PDF (1994KB) ( 225 )   Save With the rapid growth of personalized and diversified travel demand， and the rapid development of technical means such as Internet， big data and mobile payment， the shared mobility platform is constantly transforming and upgrading， and aims at providing multi-mode services for passengers.In busy urbantransportation networks， choosing a suitable and efficient transport mode is important. Under this background， how to establish collaborative pricing strategies for the multi-mode services has been a pain point， which seriously handicaps the development of the platform.For a shared mobility platform with customized bus service and ride-hailing service， collaborative pricing models for four scenarios， including “driver-owned ride-hailing + centralized pricing”， “driver-owned ride-hailing + decentralized pricing”， “platform-owned ride-hailing + centralized pricing” and “platform-owned ride-hailing + decentralized pricing”， with the consideration of the impact of price， waiting time and ride comfort on passenger utility. The corresponding optimal pricing strategies are proved. The numerical results show that for customized bus service and ride-hailing service， the better one between centralized pricing and decentralized pricing with driver-owned ride-hailing is determined by the initial passengers share of customized bus service and the commission to driver’s income charged by the platform； the better one between centralized pricing and decentralized pricing with platform-owned ride-hailing is determined by the initial passengers share of customized bus and the cost per ride-hailing order. In addition， ride comfort is an important factor for passenger utility. Ignoring ride comfort will make customized bus service raise pricing， which reduces the number of passengers and the profit of customized bus service， and ultimately affects the total profit of the platform.The contribution of this paper to the theory and practice of collaborative pricing of diversified shared mobility platform includes the following three aspects.First， the optimal pricing strategies of ride-hailing service and customized bus service under different platform operation modes and pricing methods are deduced.Secondly， the impacts of pricing mode on platform profit， customized bus service profit and ride-hailing service profit under different operation modes are analyzed.Thirdly， it is revealed that ride comfort is an important factor affecting passenger utility. Figures and Tables | References | Related Articles | Metrics

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Production and Selling Strategies of Agriculture Products under E-tailers' Support for Farmers Wenting Sun,Hongjun Peng 2024, 32 (7):  181-189.  doi: 10.16381/j.cnki.issn1003-207x.2021.1927 Abstract ( 164 )   HTML ( 6 )   PDF (2098KB) ( 275 )   Save Under the background of e-tailers and consumers’ support for poor farmers， e-tailers， such as JD. COM， are encouraged to help selling agriculture products of poor areas. Consumers are also willing to buy products in poor areas and pay a price premium for them. However， expensive logistics costs are regarded as main obstacles that hinder the e-selling of agriculture products in poor areas. Usually， there are two e-selling modes for agriculture products， which are agency selling and reselling modes. Under the agency selling mode， farmers sell directly to consumers and undertake logistics costs while the e-tailer charges a few commission. Under the reselling mode， the e-tailer purchases products from farmers and resell them to consumers， and the e-tailer undertakes logistics costs. Due to economics of scale， the e-tailer’s logistics efficiency is usually higher than farmers’. In this context， the sale strategy of agriculture products in poor areas has become a challenge for farmers， e-tailers and government. That is to say， is it beneficial for poor farmers to sell by e-channel？ Which sale mode is better for poor farmers？To solve the questions， a two level supply chain composed of an e-tailer and a poor farmer is studied， and a Stackelberg game model between them is established. Firstly， the farmer’s production decisions and the e-tailer’s pricing decisions are studied under agency selling and reselling modes， considering the e-tailer and consumers’ preference to support farmer and logistics costs. Further， the farmer selling in the local market is taken as a contrast， and the effects of e-selling on farmer’s welfare are analyzed by comparing the farmer’s profits with selling in the local market and with selling under two e-selling modes.The results show that e-tailers and consumers’ preference to support farmer both have positive effects on farmer’s production and profit. Compared to selling in the local market， e-tailing can improve farmer’s profit in most cases. While the farmer’s profit may be hurt when logistics costs are relatively high and the e-tailer’s preference to support farmer is relatively small， or when logistics costs are very high. Combined with numerical analysis， it is gotten that agency selling mode usually performs better in improving farmer’s profit than reselling mode； when farmer’s logistics cost is obviously higher than the e-tailer’s （e.g. 10% higher than the e-tailer’s）， agency selling mode does better only if the e-tailer’s preference to support farmer is relatively high （e.g. higher than 0.5）； when farmer’s logistics cost is significantly higher than the e-tailer’s （e.g. 40% higher than the e-tailer’s）， reselling mode does better.The research findings can provide decision reference and management enlightenment for the selling of agriculture products in poor areas. To develop e-tailing in poor areas， firstly， the government may stimulate e-tailers and consumers’ willing to support poor farmers by means of rewards or subsidies. Secondly， the government may improve cold-chain logistics infrastructure in poor areas or subsidize logistics costs to reduce logistics costs of agriculture products’ e-tailing. Figures and Tables | References | Related Articles | Metrics

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Financing and Pricing Decision Models of an E-commerce Supply Chain Considering Competition and Risk Aversion Yi Tao,Ruisi Yang,Qiang Lin,Fan Wang 2024, 32 (7):  190-200.  doi: 10.16381/j.cnki.issn1003-207x.2021.2286 Abstract ( 122 )   HTML ( 3 )   PDF (2331KB) ( 187 )   Save The rapid development of e-commerce not only brings more sales opportunities for small and medium retailers， but also provides financing services for them to solve their capital shortage issue. Such small and medium retailers are usually difficult to obtain adequate capital in reality and lack of anti-risk capabilities， which make them often adopt conservative strategies when making production and sales decisions， showing the characteristics of risk aversion. Since 2014， JD.com’s financing service has served 300，000 small and medium companies and 700，000 individual merchants， with a historical cumulative loan amount of nearly 600 billion. As an online sales channel for third-party retailers， e-commerce platforms charge certain usage fee according to retailers’ sales revenue， and also obtain corresponding interest income by providing financing services for them. Retailers that have obtained financing service ensure the stability of the supply chain procurement and production business， and even expand sales， which further increases the platform's fee income， forming a mutually beneficial cooperative relationship between the two parties. On the other hand， it is commonly seen that platform companies now often establish their own retailing channels， adopt the resale model to sell products similar to those of third-party retailers， or even develop their own brand products to directly compete with other retailers. For example， “JD.com Jing Zao”， which was launched in January 2018， is a brand that JD.com cooperates with outsourcing manufacturers to sell on its platform. In this study， it is interesting in the sales and financing strategies of the platform and third-party sellers in the e-commerce supply chain environment where competition and cooperation coexist， and how the risk-averse characteristics of SMEs affect the optimal decision-making of supply chain members. To this end， an e-commerce co-petition supply chain composed of a risk-averse retailer， a risk-averse supplier and a risk-neutral platform is considered， and three scenarios are developed： no one is financially-constraint， the supplier is financially-constraint but the retailer is not； and the retailer is financially-constraint but the supplier is not. The game theory is used to investigate the optimal decisions of each supply chain member and their utility when both retailer and supplier are sufficiently funded or the platform finances the capital-constrained retailer or supplier. The results of this study have shown that： （1） risk aversion of the retailer or supplier will significantly affect the optimal decision of each company， and the correlation between the optimal decision of supply chain members and the risk aversion coefficient depends on whether the retailer or supplier has financial constraints； （2） the retailer and platform’s optimal retail prices when the supplier is capital-constrained are higher than not capital-constrained， but when the retailer has capital constraints， the retail prices are most affected by the supplier’s production costs which makes them greater than when nobody is capital-constrained and the supplier is capital-constrained； （3） supplier’s risk aversion will reduce its own utility and the platform’s profit but increase the retailer’s utility； the retailer’s risk aversion will cause the loss of its own utility but increase the supplier’s utility. This may increase or decrease the platform’s profit， which depends on whether the retailer or supplier has financial constraints. Figures and Tables | References | Related Articles | Metrics

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Pricing Strategies of a Retailer Facing Heterogeneous Consumers under Supply Shortage Heng Du,Ke Lu 2024, 32 (7):  201-211.  doi: 10.16381/j.cnki.issn1003-207x.2021.2453 Abstract ( 116 )   HTML ( 2 )   PDF (2901KB) ( 241 )   Save Numerous retailers prefer to sell multiple product variants to cate for consumers of different tastes. It contributes to obtaining competitive advantage and expanding market shares. These product variants mainly differ in attributes such as color and size. However， supply shortage of a certain product is a common problem for a retailer selling multiple product variants. To this end， many downstream retailers adopt some pricing strategies to mitigate this supply risk. There are two pricing modes： uniform pricing and differentiated pricing. Under the differentiated pricing strategy， products are set with unequal prices. Under the uniform pricing strategy， the retailer designs the identical price.To understand two pricing strategies， two methods are combined： mathematical optimization and multi-agent modelling. First， a mathematical optimization model is developed including one retailer and many consumers. The retailer sells two product variants in market. Specially， these consumers are heterogeneous， who select one of products to buy. Pricing decisions and two pricing strategies are compared by the theoretical model. Second， a more complex model is extended based on the multi-agent modelling. Considering product valuation gap， ordering decision and bounded rationality， pricing strategies are further studied in a dynamic environment. There are two shortage cases considering product valuation gap： the product with a large valuation is short and the product with a small valuation is short. The impacts of valuation gap and supply risk on pricing strategies are investigated.The results show that　（1） When products compete with each other， the differentiated pricing strategy is a better choice. （2） If each product monopolizes own market， the uniform pricing should be selected. （3） Product valuation gap has an impact on a retailer’s pricing strategy. Especially， when the product with a lower valuation is not sufficient， the uniform pricing should be used. （4） A retailer’s ordering decision depends on the market environment under demand uncertainty. These managerial insights can be used for firms to select pricing strategies to mitigate the supply uncertainty risk in reality. Figures and Tables | References | Related Articles | Metrics

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Research on Pricing and Advertising Strategies for Information Products Based on Freemium Model Pengyu Chen,Huili Han,Pin Zhou,Liping Kong,Qin Wang 2024, 32 (7):  212-224.  doi: 10.16381/j.cnki.issn1003-207x.2021.2658 Abstract ( 99 )   HTML ( 3 )   PDF (2762KB) ( 124 )   Save With continuous innovations in information technology， the demand for information products in the market has been growing. The freemium model has become a widely adopted business strategy by information product developers. Decisions regarding product pricing and advertising strategies have become crucial research questions. A game-theoretical model between information product developers and consumers is constructed to investigate the optimal pricing and advertising strategies for information product developers when network effects are present. A comparison is made between the ad-free pure payment model and the freemium model. The impact of advertising revenue rate and network effect strength on optimal pricing， advertising intensity， optimal profit， consumer surplus， and social welfare is analyzed. The results indicate that the profit of developers under the freemium model is consistently higher than that under the pure payment model. When network effects are weak， there exists a U-shaped relationship between advertising intensity and advertising revenue rate （that is， first decreases and then increases）. Conversely， when network effects are strong， advertising intensity starts at zero and increases with advertising revenue rate. In the extension section， considering the existence of open screen advertisement， the profit of developers under the freemium model remains higher than that under the pure payment model. Numerical experiments reveal that by adjusting the quality of free products based on different advertising revenue levels， developers can further enhance their profits. The main contribution of this research lies in considering the roles of advertising and network effects in the freemium model. The research findings fill a gap in the field of information product pricing and offer insights and recommendations for decision-making by information product developers. Figures and Tables | References | Related Articles | Metrics

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The Introduction Strategy of Instant Retail for a Platform Supply Chain Considering Consumer Time Valuation Zonghuo Li,Shanliang Li,Xiangfeng Chen,Miao Hu 2024, 32 (7):  225-235.  doi: 10.16381/j.cnki.issn1003-207x.2023.1533 Abstract ( 163 )   HTML ( 9 )   PDF (3494KB) ( 211 )   Save Instant retail services， a pattern of online ordering and store delivery built by platforms and physical retailers， is a new retail model that fully utilizes online customer traffics and store delivery advantages to meet consumers' immediate demand. Based on the platform’s online channel and the physical retailer’s offline channel， the introduction strategy of an instant channel for a platform supply chain is explored. Taking the consumers’ time valuation into consideration， the impact of time valuation， delivery timeliness， and commission fee on channel co-opetition and game equilibrium is studied. The result shows that the introduction of the instant channel does not necessarily increase or decrease the price of the platform and retailer. Rather， a moderate time consumption of the instant channel increases the price of the platform and retailer. The result also shows that the platform benefits from the instant channel when the instant channel’s time consumption is at an intermediate value and the commission fee is high. The better the timeliness of instant channel delivery， the more beneficial it is for the retailer. Particularly， when the timeliness of the instant channel is moderate， the retailer can derive increased profit from the high-price strategy of the offline channel even if the commission fee is high. In this situation， the platform supply chain reaches the Pareto optimization. Nevertheless， if the retailer adopts a differential pricing strategy for the instant channel and offline channel， a high commission fee is not conducive to the opening of the instant channel. The platform and retailer should negotiate a low commission fee and strengthen the delivery timeliness of the instant channel. The results can provide theoretical references for instant retail platforms and physical retail enterprises in determining pricing and cooperation relationship strategies. Figures and Tables | References | Related Articles | Metrics

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Research on Pricing and Channel Modes Selection of Pharmaceutical Retailers Considering Medical Insurance Reimbursement and Delivery Time Lanjuan Jiang,Wuhua Chen,Xiaohong Chen 2024, 32 (7):  236-247.  doi: 10.16381/j.cnki.issn1003-207x.2021.1735 Abstract ( 96 )   HTML ( 1 )   PDF (3138KB) ( 174 )   Save With the development of pharmaceutical e-commerce， many traditional pharmaceutical retail companies choose to establish online channels.Pharmaceutical retailers can choose to build their own or join a third-party platform model to build online channels. However，the pressure on physical pharmacies from the “zero mark-up policy” and the differences in online and offline medical insurance policies have affected the dual-channel strategy of pharmaceutical retailers.Therefore， it is very important to study the online channel mode selection of pharmaceutical retailers under the influence of delivery time and medical insurance reimbursement factors. Considering that market demand is affected by medical insurance reimbursement and delivery time， the price and delivery time decision models are built for self-built and platform modes. Then， the influence of the medical insurance reimbursement rate and commission rate on the optimal strategy and profit is analyzed through numerical examples， and the problem of retailer's choice of the modes of implementing online channel is discussed. The results found that： when consumers have a higher acceptance of online channels and the delivery time is longer， the online price increases with the delivery time； otherwise， the online price decreases with the delivery time. When the medical insurance reimbursement rate is very large （very small）， retailers should choose only offline （only online） channels； otherwise， when the commission rate is small （large）， the platform （self-built） mode is better； low medical insurance reimbursement rate weakens the offline advantage， prompting pharmaceutical retailers to reduce dual-channel prices and develop online channels； a high medical insurance reimbursement rate may cause retailers to rely on offline and increase dual-channel prices to obtain higher profits.The conclusions of this paper have a certain reference for pharmaceutical retailers to formulate dual-channel strategies and the government to formulate reasonable medical insurance policies. Figures and Tables | References | Related Articles | Metrics

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The Optimization of Online Dynamic Inventory Allocation for Order Fulfillment in Two Echelon Warehouse Network of B2C e-Commerce Hao Xiong,Huili Yan 2024, 32 (7):  248-257.  doi: 10.16381/j.cnki.issn1003-207x.2021.1215 Abstract ( 129 )   HTML ( 4 )   PDF (2189KB) ( 192 )   Save To make the B2C order always be fulfilled by the closest warehouse， the Regional Distribution Center （RDC） of B2C have to replenish the inventory to Front Distribution Center （FDC） according to the available inventory and the daily demand. This process of the replenishment is called online dynamic inventory allocation， which could greatly reduce the inventory shortage and reduce the transshipment cost and the sales loss. So， the online dynamic inventory allocation become an important issue for the fastest response of the e-fulfillment. In this paper， the daily decision model and the solving algorithm of the online dynamic inventory allocation problem are presented. First， the cost of inventory shortage caused by the daily inventory allocation decision are analyzed， which includes five different shortage cost. And， the daily decision model is proposed based on these shortage costs. Then， according to the marginal analysis of inventory shortage cost， it is concluded that the RDC daily demand of the decision day should be satisfied preferentially. After that， two equilibrium inventory allocation strategies are presented specifically for the current day and the next day when transportation is unlimited. Furthermore， when both the limitation of quantity and the product item of transportation are considered， an iterative algorithm based on average opportunity cost of allocation is constructed. Finally， numerical experiments are implemented to simulate the inventory allocation operation of B2C e-commerce. The results of simulation demonstrate that both the model and the algorithm could obtain a sequence of optimal daily allocations in an acceptable computation time. The daily decision model and the solving algorithm of this study can help the B2C retailor develops better inventory allocation policies. Figures and Tables | References | Related Articles | Metrics

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Research on Government Subsidy Model of Dual-sales Channel Closed-loop Supply Chain Wenbin Wang,Ye Liu,Shiyuan Quan,Luosheng Zhong,Jia Lv 2024, 32 (7):  258-269.  doi: 10.16381/j.cnki.issn1003-207x.2021.1474 Abstract ( 204 )   HTML ( 11 )   PDF (2684KB) ( 260 )   Save In today’s society， a large number of waste electrical and electronic products increase dramatically. If these waste products cannot be effectively recycled， it will not only bring greater harm to the environment， but also make the production cost of the enterprise high. The Chinese government implements a subsidy policy to encourage the development of the recycling industry. Although the government subsidy policy has a positive effect on the recycling of waste electronic products by enterprises， the government is facing the problem that the subsidy amount cannot make ends meet. How to choose the subsidy object to achieve the optimal benefit of the limited subsidy amount is urgently needed to study.Therefore， a closed-loop supply chain game model with different government subsidies is constructed under dual sales channels composed of a manufacturer， a retailer， and a recycler， and the government’s choice of different subsidy objects on supply chain members’ decisions， supply chain members’ profits， consumption surplus and the impact of social welfare is analyzed. The correctness of the conclusions is verified through data simulation on the basis of reference to relevant literature and enterprise research.Research shows：（i） the best government subsidy pattern is that simultaneously subsidize manufacturers and collectors， allocate approximately equal subsidies to both manufacturers and collectors， and appropriately implement as many subsidies as possible for unit product when consumer surplus and social welfare are optimal； （ii） there is a unique subsidy ratio that maximizes consumer surplus， manufacturers and retailers profit， and product prices when unit product subsidy is fixed. Moreover， the profit of collectors and the collection rate are higher than the situation where the government subsidizes manufacturers separately and without government subsidies under this ratio； （iii） when the market size is greater than the threshold， the government subsidizing manufacturers and collectors at any ratio can reduce the direct sales price， the wholesale price and retail price， and increase the collection rate； （iv） improving the intensity of competition between dual sales channels and expanding the remanufacturing cost advantageare both beneficial to increase the collection rate.Some management suggestions are provided for the government， manufacturing companies and waste product recycling companies. For the government， it is necessary to comprehensively consider the market scale and recycling scale of the product when choosing subsidies. For manufacturers， it is possible to reduce the cost of product remanufacturing through technological innovation or improved management. For recyclers， they can reduce recycling costs， increase the recycling rate of waste products， and increase recycling profits through technological innovation and narrowing the scope of business operations. Figures and Tables | References | Related Articles | Metrics

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Co-Opetition Game Analysis of Joint Purchasing Coalitions of Farsighted Retailers Based on Service Competition Dan Xiao,Xiaonan Ji,Yan Luo,Yongwu Zhou 2024, 32 (7):  270-280.  doi: 10.16381/j.cnki.issn1003-207x.2021.2591 Abstract ( 107 )   HTML ( 1 )   PDF (2683KB) ( 197 )   Save With the increasingly fierce market competition， in order to reduce procurement costs and obtain competitive advantages， small and medium-sized retailers form joint purchasing coalitions， cooperate with each other and collect demand， so that they have no obvious difference in product quality and price， but they still keep competitive in service， then they formed a co-opetition relationship of retailer joint procurement based on service competition.Three retailers based on service competition are considered to purchase products from a common manufacturer and then sell them to consumers. There are three joint purchasing coalitions for retailers， namely retailer purchase independently， two retailers purchase jointly and three retailers purchase jointly. It is assumed that the demand of retailer i is affected by its own service level and the service level of others retailers， the demand function of retailer i is： q_i(\mathbf{s})=\alpha +\beta s_i-\frac{\beta }{\mathrm{3}}\sum _{j\ne i}{s}_j， i=1， 2， 3， where \alpha is the basic market demand of each retailer， \beta is the sensitivity of market demand to the retailer’ s service level； the service cost of retailer i is assumed to be \eta s_i^{\mathrm{2}}/\mathrm{2}.According to the above assumptions， firstly， the service level， market demand and profit of retailers under different coalition structures are compared， and the optimal strategy choice of retailer joint procurement coalition is obtained， and then the concept of largest consistent set in cooperative game theory are used to describe the stable structure of joint purchasing coalition of farsighted retailers. The results shows that， （1） if the service cost is low or high， retailers will provide the highest service level when they form the grand purchasing coalition， if the unit service cost is moderate， the external retailers will provide the higher service level when two retailers jointly purchase. （2） The order quantity of retailers in grand coalition is the highest when the unit service cost is low or moderate， if the unit service is high， the internal retailers in two-retailer purchasing coalition will get the highest purchase demand. （3） If the unit service cost is high enough， the profits of every retailer are the highest when they form the grand purchasing coalition， and the coalition will keep stable.The research results provide a decision-making basis for the choice of retailer service strategy and maintaining the stable structure of the coalition in the joint procurement coalition under the relationship of co-opetition. Figures and Tables | References | Related Articles | Metrics

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Manufacturer's Decentralized Encroachment Strategy with Consumer Green Preference and Channel Competition Jin Li,Gege Liu,Haixia Zhang,Jianghua Zhang 2024, 32 (7):  281-290.  doi: 10.16381/j.cnki.issn1003-207x.2021.1964 Abstract ( 166 )   HTML ( 11 )   PDF (2131KB) ( 233 )   Save The digital economy and e-commerce have made it possible for manufacturers to sell green products and encroach into the retail market. Although the manufacturer's decentralized encroachment strategy is widely used in domestic and foreign business practices， in current related research， there are few studies on the manufacturer’s decentralized encroachment strategy considering giving more autonomy to their retail subsidiary.Based on this， consumer green preference， channel competition and encroachment costs， and constructs a dual-channel green supply chain centralized encroachmentmodel and a decentralized encroachmentmodel that allows the manufacturer to give its retail subsidiary independent pricing power via a transfer price are considered. Under the centralized encroachment， the retailer and the manufacturer involves in a direct competition in the retail market. The manufacturer produces green products and sells them directly to consumers. The manufacturer makes sales decisions in a centralized manner. At the same time， the manufacturer also wholesales green products to the retailer in traditional wholesale channel.Under the decentralized encroachment， the retailer will compete with the retail subsidiary of the manufacturer， and the manufacturer will sell the green products to its retail subsidiary at a unit transfer price. Due to the transfer price， the face-to-face conflict between the manufacturer and the retailer will be avoided. The retail subsidiary can make independent sales decisions and maximize its own profits.In the modelsproposed in this paper， there is a stackelberg game between the manufacturer and the retailer. Firstly， the backward-induction method is used to solve the equilibrium solution and the encroachment conditions of the centralized and decentralized encroachmentmodels. On this basis， the influence of consumer green preference and channel competition on the green level， sales decision and profits is analyzed under centralized and decentralized encroachment. Secondly， the social welfare under the two encroachment strategies are compared. Finally， numerical simulation is used to explore the effects of consumer green preference， channel competition， and environmental benefit cost coefficients on product greenness， supply chain members’ profits and social welfare， and the robustness of the results is also verified. The research results show that： 1） Under each encroachment strategy， as consumer green preference increases， the manufacturer will invest more in green products， and both the manufacturer and the retailer will benefit. When the channel competition increases，themanufacturer will reduce their R&D investment in green products in order to cope with price competition. 2） Under the decentralized encroachment， the manufacturer reduces the intensity of channel competition with its downstream retailer by imposing a transfer price on its retail subsidiary， thereby improving the profitability of each member in the supply chain and the products’ greenness. In addition， decentralized encroachment can also reduce environmental damage and increase social welfare. Under the environment of advocating green production and consumption， these conclusions provide theoretical support for manufacturing companies to choose decentralized encroachment strategy. Figures and Tables | References | Related Articles | Metrics

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Research on Manufacturer Pricing and Financing Strategy Based on Market Power Structure under E-commerce Participation Lijun Li,Huiqing Tang,Fu Cheng 2024, 32 (7):  291-299.  doi: 10.16381/j.cnki.issn1003-207x.2021.1056 Abstract ( 96 )   HTML ( 3 )   PDF (1922KB) ( 159 )   Save In recent years， more and more consumers choose Taobao， JD.COM， Pinduoduo and other e-commerce platforms to buy goods. Compared with traditional offline stores， they provide consumers with a more convenient sales service， and online shopping orders have increasingly become a part of people's lives.Aiming at the network e-commerce supply chain system composed of e-commerce platform， a capital constraint manufacturer and a competitive manufacturer， the pricing and financing strategies of capital constraint manufacturers are studied based on different power structures under e-commerce lending and bank lending. In this paper， four kinds of channel power structures are considered， namely P power structure （i.e. the e-commerce platform is the leader， the two manufacturers are the followers）， S power structure （i.e. the competitive manufacturer is the leaderthe e-commerce platform is the secondary leader and the small manufacturer is the follower）， C power structure （i.e. the e-commerce platform and the competitive manufacturer are both the leaders and the small manufacturer is the follower）， and T power structure （i.e. the e-commerce platform is the leader， the competitive manufacturer is the secondary leader and the small manufacturer is the follower）.Research shows that the financing interest rate is an important factor affecting the financing strategy of the capital constraint manufacturer. There is a threshold point in each of the four power structures. When the bank loan interest rate is fixed， if the e-commerce loan financing interest rate is greater than the threshold point， the manufacturer will choose e-commerce loan financing. Otherwise， the manufacturer will choose bank loan financing. With the increase of self-owned funds， the threshold points under the four power structures increase， so it is easier for manufacturers to choose bank lending. With the increase of competition level， the threshold points under the four power structures all decrease， so the possibility of manufacturers choosing e-commerce to borrow increases. Besides， both the e-commerce platform and competitive manufacturer have the motivation to occupy a dominant position in the market and give priority to announcing pricing strategies.Proper competition is a win-win choice for all parties.Based on this research， the financing strategy choice of manufacturers and the pricing strategies of supply chain members are analyzed under different circumstances， and the influence of competition intensity and other factors on the optimal strategy is discussed， which helps enterprises to make the optimal strategy and provides management enlightenment for the practical problems faced by enterprises. The deficiency of this study is that the bankruptcy cost and platform service cost are not considered， and the competition problem of multi-home appliance platform is not introduced， which is worthy of further study in the future. Figures and Tables | References | Related Articles | Metrics

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Research on Dual Channel Dynamic Pricing of Community Fresh Food Supply Chain from the Perspective of Competition Lin Pan,Xiajing Xu,Rongting Zhou 2024, 32 (7):  300-310.  doi: 10.16381/j.cnki.issn1003-207x.2021.1506 Abstract ( 165 )   HTML ( 10 )   PDF (2003KB) ( 370 )   Save In view of the characteristics of perishability， freshness and loss of fresh food， the influence of time， price and freshness are considered on the demand of traditional channels and community fresh food e-commerce channels， as well as factors such as preservation cost and inventory cost. The dynamic equilibrium models of fresh food community food suppliers and retailers are established by using differential variational inequalities. Key findings are as follows： First， fresh food has a dynamic pricing cut-off point in its sales life cycle. Suppliers and retailers can adopt different pricing methods according to the dynamic quality change characteristics， so as to realize the improvement of profits； secondly， in the dual-channel fresh food supply chain， enterprises can control the fresh-keeping costs and inventory costs of fresh products based on big data and the characteristics of residents’ online shopping， and make pricing decisions， inventory planning and allocation for products in different regions， thereby reducing the need for fresh food products. Loss and waste due to expired food. Finally， the dynamic price discount strategy of suppliers and retailers' respective channels is analyzed through numerical example simulation， which provides a basis for suppliers and retailers to make decisions. Figures and Tables | References | Related Articles | Metrics

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Mitigation Strategy Analysis of Aggregate Industrial NOx and NOx Intensity in China Using Structural Decomposition Analysis Framework Guoxing Zhang,Jilei Han,Bin Su 2024, 32 (7):  311-323.  doi: 10.16381/j.cnki.issn1003-207x.2021.2598 Abstract ( 134 )   HTML ( 2 )   PDF (2840KB) ( 294 )   Save Economic growth has brought challenges to ecological and environmental sustainable development. NOx governance has become one of the severe challenges of China’s social and economic development， especially the industrial sources. Although the absolute change in aggregate NOx emissions is often used by researchers and policymakers to measure environmental performance， very few studies systematically track the drivers of NOx emission/intensity changes with structural decomposition analysis （SDA）. The embodied industrial NOx emission/intensity is estimated by final demand category at the aggregate and sector levels， and the total NOx emission/intensity is decomposed using additive and multiplicative SDA under the input-output framework. The results show that the embodied emissions/intensity were significantly reduced at the final demand category level； investment was the main contributor to China’s NOx emission/intensity， followed by household consumption. The emission intensity effect is the main driver （91.69%） of NOx emission/intensity reduction， and the domestic Leontief structure effect is the catalyst for the emission intensity effect. The final demand categories presents a blocking effect. At the sector level， the aggregate embodied NOx emission is mainly contributed by construction （49.26%）， and the aggregate embodied Value Added is mainly contributed by service （44.90%）. The emission efficiency improvement of the sectors “Production and supply of electricity and heating power”， “Non-metal minerals products” and “Smelting and pressing of ferrous metals” make these sectors the main contributors to the decline in the total aggregate embodied emission intensity. Finally， the mitigation strategy is discussed from a win-win perspective balancing economic growth and environmental protection， which provides a theoretical basis for future NOx governance. Figures and Tables | References | Related Articles | Metrics

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Simulation and Cooperative Mechanism of Construction Waste Disposal Based on Evolutionary Game Zhiguo Shao,Mengdi Li,Chuanfeng Han,Lingpeng Meng,Qidi Wu 2024, 32 (7):  324-334.  doi: 10.16381/j.cnki.issn1003-207x.2021.1728 Abstract ( 114 )   HTML ( 2 )   PDF (3455KB) ( 194 )   Save With the continuous advancement of urbanization， huge amounts of construction waste is generated in the large-scale construction activities， which has aggravated the problems of resources waste， environmental pollution and city appearance destruction. The effective disposal of construction waste can reduce environmental pollution and resource shortage， and promote the sustainable development of the construction industry. The balance of interests among the participants in the disposal of construction waste is a key factor for effective disposal. Therefore， under the assumption of bounded rationality， it aims to improve the efficiency of construction waste disposal from the perspective of interests， and clarify the roles and complex interest relationships of construction enterprises， the government and the public in construction waste disposal. Based on the evolutionary game theory， the evolutionary game revenue matrix and evolutionary game tree are established， the replication dynamic equation of each stakeholder is constructed， and the evolutionary stability strategy of the system is analyzed. The evolution path is simulated by Matlab， and the initial strategy and external variables of the system are simulated and analyzed combined with the system dynamics. The results show that when the benefits of active disposal by construction companies， the government， and the public are greater than the benefits or costs of passive disposal， each entity tends to actively disposal； construction companies are the generators of construction waste， so the government and the public should strengthen cooperation and actively supervise and guide them to legally dispose construction waste； penalties for construction companies， government subsidies， and active public participation can effectively promote the legal disposal of construction waste. The results can provide a theoretical reference for improving the efficiency of construction waste disposal and promoting the sustainable development of construction enterprises in China. Figures and Tables | References | Related Articles | Metrics