Coordination contract design for the newsvendor model

doi:10.1016/j.ejor.2019.10.045

CSpace > 应用数学研究所

	Coordination contract design for the newsvendor model
	Li, Linqiu 1,2,3; Liu, Ke1,2,3
	2020-05-16
发表期刊	EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
ISSN	0377-2217
卷号	283 期号:1 页码:380-389
摘要	We design contracts to coordinate the newsvendor setting with a supplier and a retailer. Traditional approaches begin with a restricted set of contracts. However, we design mechanisms in a more general way by directly constructing payment schemes to satisfy incentive-compatibility and individual-rationality. Under symmetric information, coordinating contracts in the literature can be interpreted by this method. Under asymmetric information, we model the retailer's private demand information as a space of either continuous or discrete states. In the continuous case, wholesale price contracts cause system inefficiency and there exists a unique optimal wholesale price for the supplier if the distribution of forecast error has IFR (Increasing Failure Rate) property. We further characterize the structure of coordinating payment, and find that the set of coordinating contracts is restricted to special two-part tariffs where wholesale price equals unit production cost. In the discrete case, contrary to expectation, linear wholesale price contracts achieve coordination. With demand forecast distributed more and more densely on its support, the interval of coordinating wholesale prices gradually shrinks to the unit production cost. (C) 2019 Elsevier B.V. All rights reserved.
关键词	Supply chain management Game theory Asymmetric information Mechanism design
DOI	10.1016/j.ejor.2019.10.045
收录类别	SCI
语种	英语
WOS研究方向	Business & Economics ; Operations Research & Management Science
WOS类目	Management ; Operations Research & Management Science
WOS记录号	WOS:000510524300028
出版者	ELSEVIER
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/50790
专题	应用数学研究所
通讯作者	Li, Linqiu
作者单位	1.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 2.Chinese Acad Sci, Key Lab Management Decis & Informat Syst, Beijing 100190, Peoples R China 3.Univ Chinese Acad Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Li, Linqiu,Liu, Ke. Coordination contract design for the newsvendor model[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,2020,283(1):380-389.
APA	Li, Linqiu,&Liu, Ke.(2020).Coordination contract design for the newsvendor model.EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,283(1),380-389.
MLA	Li, Linqiu,et al."Coordination contract design for the newsvendor model".EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 283.1(2020):380-389.