抄録
Tsay (2002) introduced a wholesale price contract model with or without return provision where the risk attitude is represented by the mean-standard deviation value function. In this paper, we focus on a case without return provision where a manufacturer is the Stackelberg leader and a risk-averse retailer reacts. We relax a restriction on the retailer's order size imposed in Tsay (2002). We show that the restriction leads to misleading insights in his paper. We also show that there exist three types of equilibrium outcomes depending on the model parameter values, and one equilibrium type shifts to another as the retailer's risk aversion increases. This causes that a small change in risk aversion might lead to a large change in supply chain coordination. If the retailer is highly risk averse, then the manufacturer might consider substantially reducing the wholesale price to induce a much greater supply chain wide expected profit.
