Coordination contract design for the newsvendor model

doi:10.1016/j.ejor.2019.10.045

CORC > 数学与系统科学研究院 > 中国科学院数学与系统科学研究院 > 应用数学研究所

	Coordination contract design for the newsvendor model
	Li, Linqiu 1,2,3; Liu, Ke 1,2,3
刊名	EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
	2020-05-16
卷号	283 期号:1 页码:380-389
关键词	Supply chain management Game theory Asymmetric information Mechanism design
ISSN号	0377-2217
DOI	10.1016/j.ejor.2019.10.045
英文摘要	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.
WOS研究方向	Business & Economics ; Operations Research & Management Science
语种	英语
出版者	ELSEVIER
WOS记录号	WOS:000510524300028
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/50789]
专题	应用数学研究所
通讯作者	Li, Linqiu
作者单位	1.Chinese Acad Sci, Key Lab Management Decis & Informat Syst, Beijing 100190, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, 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.