JOURNAL OF SHANDONG UNIVERSITY(NATURAL SCIENCE) ›› 2024, Vol. 59 ›› Issue (9): 56-63.doi: 10.6040/j.issn.1671-9352.0.2023.174

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Differential game in supply chain of innovative products with double regrets of consumers

ZHU Yi, LIU Zhenwei*   

  1. School of Economics and Management, East China Jiaotong University, Nanchang 330013, Jiangxi, China
  • Published:2024-10-10

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Abstract: In the context of a long-term dynamic environment, this study investigates the impact of consumer regret behavior after purchasing innovative durable products on a manufacturer-led secondary dynamic supply chain. By establishing a differential game model and solving Hamilton equation, the optimal path for manufacturers wholesale prices and retailers retail prices in the supply chain is obtained. Through numerical simulation, the data changes are presented in the form of images to further analyze the impact of consumer purchase regret behavior on various decision variables in the supply chain. The results show that consumer purchase regret can lead to a decrease in sales of innovative durable products in the supply chain, and the long-term profits of manufacturers and retailers also decrease accordingly. But as the time for innovative durable products to enter the market increases, the sales volume of the products and the long-term profits of manufacturers and retailers also increase. In addition, when the proportion of consumer regret behavior is relatively small and the product market investment time is relatively long, the long-term profits of retailers will experience a bifurcation phenomenon. Therefore, when the proportion of purchase regret behavior is low, extending the products market investment time can significantly increase the profit of this innovative durable product.

Key words: consumer purchase regret, innovative product, supply chain, dynamic optimization, differential game

CLC Number: 

  • F274
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