关键词: 双渠道供应链, 风险规避, 均值&mdash, 方差, 定价决策

Abstract: Under the stochastic market requirement,an optimal decision-making model was presented with consideration of consumer returns in dual-channel supply chain consisted of risk-averse manufacturer and retailer,and the decision variables included the wholesale price and the direct price.As the benchmark,the optimal close-form solutions in centralized scenario were solved with a mean-variance modeling risk approach.By combining with the analytical methods and numerical simulations,the impact of the risk-aversion level,the demand fluctuation and the consumer return rate on optimal decisions was analyzed respectively.Results showed that a high return rate would be worst off the profits of retailer,manufacturer and the whole supply chain|the impact of risk-aversion attitude on the profits of relevant participants was closely related to demand fluctuation.In addition,the fact that decentralized decision would lead to double marginalization,but the manufacturer's intense risk aversion attitude would reduce the negative impact of double marginalization.

Key words: dual-channel supply chain, risk-averse, mean-variance, pricing decision