中文摘要：

研究了网络比价行为下零售商风险规避对制造商渠道选择的影响。制造商生产成本为线性和非线性情形下,得到制造商和零售商的均衡结果。研究发现：无论制造商生产成本是线性情形或者非线性情形,制造商均倾向于开通直销渠道。但是,与传统观点不同,直销渠道并非总是侵蚀零售商效用。若制造商生产成本为线性情形,直销渠道增加了零售商效用;若制造商生产成本为非线性情形,当零售商风险规避较小时,直销渠道侵蚀了零售商效用;当零售商风险规避较大时,直销渠道增加了零售商效用。此外,直销渠道总是增加整个供应链价值。

英文摘要：

The effects of retailer＇s risk-averse on the choice of manufacturer＇s launching were studied in the context that consumers can compare the commodity in the internet channels and retail channels.The optional decisions of the manufacturer and the retailer were shown when the cost of manufacturer is linear and non-linear.It is found that the manufacturerr always chooses to launch the online direct channel when the cost of manufacturer is linear and non-linear.However,the retailer does not always suffer from manufacturer encroachment.If the cost of the manufacturer is linear,the retailer benefits from manufacturer encroachment.If the cost of the manufacturer is non-linear and the retailer＇ s risk-averse is low,the retailer suffers from manufacturer encroachment;and when the cost of the manufacturer is non-linear and the retailer＇s risk-averse is high,the retailer benefits from manufacturer encroachment.In addition,the supply chain always benefits from manufacturer encroachment.