中文摘要：

针对需求信息不确定、由单个风险中性的制造商和单个风险厌恶的零售商组成的二级供应链系统，分别在单一零售商渠道和双渠道结构下，研究零售商风险敏感性对零售商的零售价格、制造商的批发价格和网络直销渠道价格以及零售商的风险厌恶性对制造商开辟网络直销渠道决策等的影响。研究结果表明：零售商的风险敏感性仅会影响零售渠道的价格决策，而不会影响制造商的批发价格和网络直销价格的决策；在零售商的风险厌恶程度和网络直销渠道的市场规模满足一定条件时，制造商可以通过开辟网络直销渠道获得更多收益。

英文摘要：

For a supply chain with one risk - neutral supplier and one risk - averse retailer, we develop a pricing competition model to investigate that how the retailers risk sensitivity affects the optimal decisions of players under demand uncertainty, such as the prices in the retail and e - tail channels, the wholesale price, and whether the supplier should add a direct channel or not. The research shows that the retailer＇s sensitivity affects his own pricing only but not the supplier optimal decisions. In addition, we found that direct marketing can profit the supplier only when the retailer＇s sensitivity and the market base of the direct channel meet some conditions.