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Impact of consumer preferences in a cournot duopoly market with heterogeneous smart sustainable supply chains
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Impact of consumer preferences in a cournot duopoly market with heterogeneous smart sustainable supply chains
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Journal Article
Impact of consumer preferences in a cournot duopoly market with heterogeneous smart sustainable supply chains
2024
Overview
Amid growing environmental apprehensions, an increasing consumer demographic actively pursues genuine and transparent information traceability, aiming to bolster their commitment to sustainable practices. This study aims to investigate how consumer preferences for traceability, sustainability, and sustainable brand reputation of products influence the optimal decisions and selling quantity strategies adopted by firms operating in heterogeneous smart sustainable supply chains (SSCs). Utilizing both centralized and decentralized scenarios, this research constructs differentiated duopoly models, classifying participating entities as either boundedly rational or naive. Applying a differential game approach for an infinite time horizon, the study assesses the entities’ steady optimal decisions as well as the performances of the sustainable product across two scenarios. A cournot duopoly game is employed to examine the selling quantity strategies of differentiated smart SSCs. We leverage various tools for numerical simulations, including 1-D bifurcation diagrams, the largest Lyapunov exponent (LLE), phase diagrams, and basins of attraction. The outcomes of our investigation underscore the substantial influence of consumer preferences for sustainability and traceability on the transparency of information related to sustainable products. This influence reverberates across manufacturers and suppliers, where brand reputation emerges as a pivotal factor in shaping decision-making processes. Our study meticulously examines the repercussions of the profit-sharing ratio and the adjustment speed of boundedly rational entities.
Publisher
Springer Netherlands
