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设计了一个汇率风险分担契约来对包含一个供应商和一个零售商的二阶跨国供应链进行优化,并探讨了双方的损失厌恶程度与供应链节点企业的期望效用之间的关系。通过研究发现,当零售商为损失厌恶型时,双方的期望效用明显低于风险中性时的情况,该风险分担契约可以有效的对双方的期望效用进行改进。进一步研究表明了当双方均为损失厌恶型时,在双方损失厌恶程度满足一定关系的情况下,该汇率风险分担契约可以有效的提高供应商和零售商双方的期望效用,该契约只能使得供应链达到帕累托改进,而无法实现供应链的协调。此外,零售商的损失厌恶程度和使用契约后供应商的期望效用正相关,随着零售商损失厌恶程度越高,该契约对供应商期望效用带来的改进越大。
An exchange rate risk sharing contract is designed to optimize the second-order cross-country supply chain including one supplier and one retailer. The relationship between the degree of loss aversion and the expected utility of supply chain nodes is discussed. Through the research, we find that when the retailer is loss-averse, the expected utility of both parties is obviously lower than that of the risk-neutral one. The risk-sharing contract can effectively improve the expected utility of both parties. Further studies show that when both sides are loss-averse, the exchange-risk sharing contract can effectively improve the expected utility of both suppliers and retailers when the loss aversion of both sides satisfies a certain relationship. This contract can only make the supply Pareto to improve the chain, but can not achieve supply chain coordination. In addition, the retailer’s loss aversion is positively correlated with the expected utility of the supplier after using the contract, and as the retailer’s loss aversion increases, the contract improves the expected utility of the supplier.