越来越多的文献把风险偏好纳入供应链契约模型,而实验研究依然侧重于检验风险中性假设下的契约理论,鲜有风险偏好下的契约理论模型与实证相结合的研究.为给具有不同风险偏好的零售商提供合适的风险决策支持工具,以批发价契约与收益共享契约为例,借用广泛使用的金融风险控制工具——CVaR,建立了零售商的最优订购决策模型,然后通过实验对模型进行了检验.研究发现,基于CVaR模型构建的回归方程能很好地拟舍实验数据,零售商具有显著的风险规避或风险寻求特征,同时CVaR决策支持工具能显著减小订购量的决策偏差,并有助于减小订购量的波动程度,从而证实了模型的实际应用价值.
More and more literatures are studying supply chain contracts with risk preferences, but exper- imental researches still focus on the test of supply chain contracts under the assumption of risk-neutral the- ory. Few literatures are found to study the contract models under risk preferences combined with experi- mental studies. In order to provide appropriate decision support tools for retailers with different risk prefer- ences, CVaR, one of the most popular financial optimal ordering models based on the wholesale risk management tools, is applied to form the retailer' s contract and revenue-sharing contract. Experiments are used to test the models. It is found that the regression equations based on CVaR models can fit the experi- mental data very well. The retailer' s risk-aversion or risk-taking characteristics are significant, and CVaR can significantly reduce the deviation, and help the decision-maker decrease the volatility of the orders, which also confirms the models' practical value.