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学者姓名:李沿海
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This paper considers three promotion scenarios, namely seller-leading promotion, platform-leading pro-motion, and no-leader promotion, and reveals the optimal strategy and decision patterns for these three scenarios using a stylised model and lab experiments. We focus on three research questions for the seller and platform as follows: (1) Which is the optimal choice between unilateral and bilateral promotion un-der different promotion scenarios? (2) How will the promotion scenarios affect their joint promotion? (3) To a seller/platform, is it always better to proactively initiate promotion event? Result shows that the optimal promotion strategy varies from Seller Promotion Only to joint promotion and then to Platform Promotion Only, along with an increasing commission rate. Joint promotion is optimal only when the commission rate is moderate and when the product's list price is relatively high. The promotion scenario affects the scope and intensity of joint promotion and the profit of the entities. The joint promotion leader has the first-mover advantage, which helps him/her offer fewer coupons but obtain higher profits. To a platform or seller, launching promotion events proactively is not always the best choice. Experi-ments show that the subjects behaved as predicted. Moreover, the subjects demonstrate distinct decision patterns under different promotion scenarios. Ultimately, our conclusions can provide valuable decision -making guidance to marketing managers in the online marketplace. They can also choose appropriate scenarios on the basis of certain promotion objectives with knowing decision patterns under each sce-nario. (c) 2022 Elsevier B.V. All rights reserved.
Keyword :
Behavioural experiment Behavioural experiment Coupon Coupon E-commerce E-commerce Joint promotion Joint promotion Online marketplace Online marketplace
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GB/T 7714 | Cheng, Xianghui , Deng, Shiming , Jiang, Xuan et al. Optimal promotion strategies of online marketplaces [J]. | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2023 , 306 (3) : 1264-1278 . |
MLA | Cheng, Xianghui et al. "Optimal promotion strategies of online marketplaces" . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 306 . 3 (2023) : 1264-1278 . |
APA | Cheng, Xianghui , Deng, Shiming , Jiang, Xuan , Li, Yanhai . Optimal promotion strategies of online marketplaces . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2023 , 306 (3) , 1264-1278 . |
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In this paper, we analyze an endogenous determination of a credit guarantee provided by a downstream buyer to a capital-constrained supplier to help the latter access a bank loan. Specifically, the capital -constrained supplier, who relies on bank loans to finance its production, sells a product to the buyer during a single selling season. When offering a purchase contract to the supplier, the buyer has the op-tion to decide how much to guarantee in the supplier's loan payments. Although buyer-provided credit guarantee secures a required supply quantity and reduces the purchase price paid to the supplier (by lowering the supplier's financing costs), it results in financial losses for the buyer when the supplier's realized revenue is not sufficient for repaying the loan. Hence, there exists a tradeoff between the value and cost in designing an appropriate credit guarantee scheme. We explicitly characterize the optimal credit guarantee policy and identify the conditions under which full guarantee is optimal. Furthermore, we show that bankruptcy cost plays a critical role in the impact of the supplier's wealth on the buyer's profit. The buyer is better off working with a less wealthy supplier if there is no bankruptcy cost, but this may not be the case when the bankruptcy cost is high. With buyer-provided guarantee, the existence of bankruptcy cost may incentivize the buyer to provide (ex post) bailout to rescue a supplier that is prone to bankruptcy. We show that the bailout option improves the buyer's profit, although it does not affect the optimality of implementing a full guarantee policy (ex ante).(c) 2022 Elsevier B.V. All rights reserved.
Keyword :
Bankruptcy cost Bankruptcy cost Capital constraint Capital constraint Credit guarantee Credit guarantee Supplier finance Supplier finance Supply chain management Supply chain management
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GB/T 7714 | Li, Yanhai , Ou, Jinwen , Gu, Chaocheng . Buyer guarantee and bailout in supplier finance with bankruptcy cost [J]. | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2022 , 305 (1) : 287-299 . |
MLA | Li, Yanhai et al. "Buyer guarantee and bailout in supplier finance with bankruptcy cost" . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 305 . 1 (2022) : 287-299 . |
APA | Li, Yanhai , Ou, Jinwen , Gu, Chaocheng . Buyer guarantee and bailout in supplier finance with bankruptcy cost . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2022 , 305 (1) , 287-299 . |
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<正>研究背景对装配系统供应链的管理是全球供应链管理领域面临的最复杂的情景之一。以航空制造业为例,波音公司直接管理着分布于全球几十个国家和地区的近900家供应商。尽管研发与生产的外包能够降低波音的成本,但对客户的交付却受到每一个零部件供应商的供给能力和金融风险的威胁。事实上,中小供应商资金短缺的现象在汽车和航空等复杂制造业非常常见,特别是近年来的全球金融危机、新冠疫情等不确定性事件给供应链带来的全面、复杂的影响,也使得供应链中的金融风险管理成为企业界和学术界的焦点之一。
Keyword :
供应链融资 供应链融资 供应链金融模式 供应链金融模式
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GB/T 7714 | 邓世名 , 顾超成 , 蔡港树 et al. 装配系统中的供应链融资策略 [J]. | 供应链管理 , 2022 , 3 (02) : 97 . |
MLA | 邓世名 et al. "装配系统中的供应链融资策略" . | 供应链管理 3 . 02 (2022) : 97 . |
APA | 邓世名 , 顾超成 , 蔡港树 , 李沿海 . 装配系统中的供应链融资策略 . | 供应链管理 , 2022 , 3 (02) , 97 . |
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In this paper we consider a risk-averse newsvendor to assemble a final product that is made up of multiple complementary components, where both the product demand and the supply capacity of each component are random. A novel approach is proposed to derive the first-order condition for the optimal order quantity under the Conditional Value-at-Risk (CVaR) criterion. A comprehensive comparative statics analysis is conducted. The basic model is also extended to allow dependence among the random demand and supply capacities. We show that the objective function remains to be quasi-concave if those random variables are negatively dependent, and that the positive (negative) dependence of those random variables increases (decreases) the optimal order quantity and objective value. Numerical examples are provided to illustrate some of the main results. (c) 2021 Elsevier B.V. All rights reserved.
Keyword :
Assembly system Assembly system Conditional value-at-risk Conditional value-at-risk Inventory Inventory Random capacity Random capacity Risk-aversion Risk-aversion
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GB/T 7714 | Li, Yanhai , Ou, Jinwen . Replenishment decisions for complementary components with supply capacity uncertainty under the CVaR criterion [J]. | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2022 , 297 (3) : 904-916 . |
MLA | Li, Yanhai et al. "Replenishment decisions for complementary components with supply capacity uncertainty under the CVaR criterion" . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 297 . 3 (2022) : 904-916 . |
APA | Li, Yanhai , Ou, Jinwen . Replenishment decisions for complementary components with supply capacity uncertainty under the CVaR criterion . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2022 , 297 (3) , 904-916 . |
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The credit limit is the maximum amount of accounts payable (AP) that a firm owes to its supplier. This limit establishes a tie between the effective purchasing cost and the order quantity as well as the AP level. We present a multi-period stochastic inventory model with payment delay and credit limit. Our model aims to capture the property of the optimal ordering policy with respect to the AP and inventory states. For the backlogging and lost-sales cases, we present the method to reduce the dimension of state space. In both cases, the optimal order quantity is demonstrated to be decreasing in the AP and inventory level of each age. In addition, the sensitivity of the optimal order quantity with respect to the AP decreases with age. That is, the optimal order quantity is more sensitive to the younger AP. In the backlogging case, the base-stock policy is not optimal due to the presence of credit limits. Somewhat surprisingly, our numerical example shows that the optimal order quantity is not necessarily increasing in the credit limit. Finally, based on the L-convexity of the cost-to-go function, we design a linear programming greedy heuristic policy for the infinite-horizon version of our model with independent and identically distributed demands. Numerical results show that our heuristic policy performs well.
Keyword :
credit limit credit limit inventory control inventory control L-convexity L-convexity payment delay payment delay
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GB/T 7714 | Li, Yanhai , Gu, Chaocheng , Chen, Wenbo . Dynamic inventory control with payment delay and credit limit [J]. | NAVAL RESEARCH LOGISTICS , 2021 , 69 (2) : 271-286 . |
MLA | Li, Yanhai et al. "Dynamic inventory control with payment delay and credit limit" . | NAVAL RESEARCH LOGISTICS 69 . 2 (2021) : 271-286 . |
APA | Li, Yanhai , Gu, Chaocheng , Chen, Wenbo . Dynamic inventory control with payment delay and credit limit . | NAVAL RESEARCH LOGISTICS , 2021 , 69 (2) , 271-286 . |
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基于委托代理理论研究了阶梯激励合约下的代理人行为,并从委托人角度探讨了最优合约设计的问题.在一般市场需求分布和代理人效用函数下,代理人的效用可能是其努力水平的双峰函数,且存在一个阈值使得当合约绩效奖励超过该阈值时,代理人的努力水平“跳跃式”增加.通过比较阶梯激励合约与其他两类激励合约发现,当代理人是风险厌恶型且代理人的产出完全依赖于其努力水平,委托人总是更偏好阶梯激励合约.
Keyword :
委托代理 委托代理 线性激励合约 线性激励合约 绩效目标激励合约 绩效目标激励合约 阶梯激励合约 阶梯激励合约
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GB/T 7714 | 顾超成 , 周子轩 , 邓世名 et al. 阶梯激励合约下代理人行为与合约激励效果 [J]. | 运筹与管理 , 2021 , 30 (1) : 198-203 . |
MLA | 顾超成 et al. "阶梯激励合约下代理人行为与合约激励效果" . | 运筹与管理 30 . 1 (2021) : 198-203 . |
APA | 顾超成 , 周子轩 , 邓世名 , 李沿海 . 阶梯激励合约下代理人行为与合约激励效果 . | 运筹与管理 , 2021 , 30 (1) , 198-203 . |
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当零售商缺乏足够的资金用于订货时,可在供应商的担保下向银行借款.供应商和零售商在批发价格合约的框架下进行Stackelberg博弈.供应商是风险中性的,零售商是风险厌恶的,按照条件风险值(CVaR)准则进行决策.研究表明:随着零售商自有资金及其风险厌恶程度的增大,均衡的订货量和供应商的期望利润会降低,供应链的总期望利润也会降低.相比于无担保贷款的情形,供应商提供担保可以提高自身和供应链的期望利润.数值例子表明,当零售商的自有资金较小时,供应商的担保不利于零售商;反之,供应商的担保可提高零售商的绩效.最后,将模型扩展至供应商为风险厌恶的情形,发现当供应商的风险厌恶程度超过一定的临界值时,供应商不提供担保会取得更好的绩效.
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GB/T 7714 | 李沿海 , 欧锦文 . 供应商担保下风险厌恶零售商的融资决策 [J]. | 系统管理学报 , 2021 , 30 (3) : 539-551 . |
MLA | 李沿海 et al. "供应商担保下风险厌恶零售商的融资决策" . | 系统管理学报 30 . 3 (2021) : 539-551 . |
APA | 李沿海 , 欧锦文 . 供应商担保下风险厌恶零售商的融资决策 . | 系统管理学报 , 2021 , 30 (3) , 539-551 . |
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A firm (assembler) faces random demand for a final product which is made up of multiple complementary components. Before demand is realized, the firm purchases the components via a regular channel. After demand realization, unsatisfied demand is allowed to be partially backordered in case of component shortages, where the firm is assumed to have an option to purchase the components via an emergency channel with a relatively higher unit cost. The firm needs to adopt an appropriate ordering policy to maximize the spectral risk measure of its profit. We formulate and transform the newsvendor problem into a concise optimization problem which can be further decomposed into two sub-problems. We provide optimality properties and show that the objective function of each sub-problem is separable, which enables us to determine the optimal order quantity of each component independently. We show that the optimal order quantity of each component decreases in the firm's level of risk-aversion. Numerical experiments are conducted to illustrate the effectiveness of our solution method and examine the impacts of lost sales and risk attitude on the optimal solutions. (C) 2020 Elsevier B.V. All rights reserved.
Keyword :
Complementary components Complementary components Emergency replenishment Emergency replenishment Inventory Inventory Partial backordering Partial backordering Spectral risk measure Spectral risk measure
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GB/T 7714 | Li, Yanhai , Ou, Jinwen . Optimal ordering policy for complementary components with partial backordering and emergency replenishment under spectral risk measure [J]. | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2020 , 284 (2) : 538-549 . |
MLA | Li, Yanhai et al. "Optimal ordering policy for complementary components with partial backordering and emergency replenishment under spectral risk measure" . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 284 . 2 (2020) : 538-549 . |
APA | Li, Yanhai , Ou, Jinwen . Optimal ordering policy for complementary components with partial backordering and emergency replenishment under spectral risk measure . | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH , 2020 , 284 (2) , 538-549 . |
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The reference effect and loss aversion are incorporated into the buyer's utility in the symmetric independent private value models of sealed-bid auctions. The buyer's equilibrium bidding strategy and the seller's optimal reserve price are derived for the first-price and second-price sealed-bid auctions. In both auction mechanisms, the seller's optimal reserve price and expected revenue are increasing in the reference point. We compare the seller's expected revenues as well as the optimal reserve prices in the two auctions. The results show that the seller will set a higher optimal reserve price but obtain lower optimal expected revenue in the second-price auction compared to the first-price auction. Further, we extend the model to the gain-seeking case, and endogenize the reference point as the ex-ante expected price of the item in equilibrium. In contrast to the loss-averse case, the seller will set a lower optimal reserve price but obtain higher optimal expected revenue in the second-price auction compared to the first-price auction if the buyers are gain-seeking. With an endogenous reference point, similar results are obtained in terms of revenue comparison between the two auctions. (C) 2020 Elsevier B.V. All rights reserved.
Keyword :
Gain-seeking Gain-seeking Loss aversion Loss aversion Reference effect Reference effect Reserve price Reserve price Sealed-bid auction Sealed-bid auction
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GB/T 7714 | Li, Yanhai . Optimal reserve prices in sealed-bid auctions with reference effects [J]. | INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION , 2020 , 71 . |
MLA | Li, Yanhai . "Optimal reserve prices in sealed-bid auctions with reference effects" . | INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION 71 (2020) . |
APA | Li, Yanhai . Optimal reserve prices in sealed-bid auctions with reference effects . | INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION , 2020 , 71 . |
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This paper investigates the efficiency of buyer lending in a supply chain with a retailer and a capital-constrained supplier subject to spectral risk measures. We show that the retailer should always charge the supplier the lowest possible interest rate under the buyer lending scheme. The retailer is better off in the buyer lending scheme than in the bank lending scheme if he is risk-neutral or risk-seeking, regardless of the supplier's risk attitude, internal capital, and bankruptcy costs. However, the retailer's preference switches to bank lending as his risk-aversion increases to a certain level. A comprehensive comparative statics analysis is provided.
Keyword :
Bankruptcy cost Bankruptcy cost Buyer lending Buyer lending Capital constraint Capital constraint Spectral risk measure Spectral risk measure Supply chain finance Supply chain finance
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GB/T 7714 | Li, Yanhai , Gu, Chaocheng , Ou, Jinwen . Supporting a financially constrained supplier under spectral risk measures: The efficiency of buyer lending [J]. | TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW , 2020 , 136 . |
MLA | Li, Yanhai et al. "Supporting a financially constrained supplier under spectral risk measures: The efficiency of buyer lending" . | TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW 136 (2020) . |
APA | Li, Yanhai , Gu, Chaocheng , Ou, Jinwen . Supporting a financially constrained supplier under spectral risk measures: The efficiency of buyer lending . | TRANSPORTATION RESEARCH PART E-LOGISTICS AND TRANSPORTATION REVIEW , 2020 , 136 . |
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