中文摘要：

在已有涉及经销商的闭环供应链研究中，经销商只从事废旧产品的回收与产品销售，而本文首次研究了经销商从事再制造的闭环供应链模式．研究表明，与经销商未从事再制造相比，经销商从事再制造对经销商自身以及制造商都有利．与制造商从事再制造模式相比，经销商再制造模式对经销商自身更有利，对制造商不利；从市场盈利角度看，经销商再制造模式优于制造商再制造模式；经销商再制造模式既有利于消费者福利的增加，也有利于再制造的长期发展；在经销商再制造模式对制造商不利的情况下，制造商仍可选择经销商再制造模式．

英文摘要：

The distributor is only assumed to engage in collecting the used product and selling the product in previous literatures related to the distributor in the closed-loop chain. However, this paper initially demonstrates the closed-loop supply chain model where the distributor engages in remanufacturing, and we characterize its optimal pricing decisions of both producers. This paper demonstrates that, compared with the model that the distributor does not remanufacture, the producers can both benefit from the distributor＇s remanufacturing; compared with the model that the manufacturer engages in remanufacturing, the former can benefit the distributor and the latter benefit the manufacturer from the perspective of the producer＇ s profit while the former is better than the latter from the perspective of the market＇ s profit, under which the manufacturer can transfer part of the profit of the distributor to herself on the premise that both the producers eam more than before. Further, the former case increases the consumers＇ welfare and accelerates the development of the remanufacturing.