Commitment Option Contract Selection
Commitment Option Contract Selection
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承诺期权合约选择
DOI：
10.11221/jima.72.245
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发表时间：
2022
影响因子：
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通讯作者：
Hiroaki MATSUKAWA
中科院分区：
文献类型：
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作者：
Abir TRABELSI;Hiroaki MATSUKAWA
研究了市场需求为随机变量的两阶段两供应商一买方供应链中的期权契约问题。供应商通过向买方提供承诺期权合同进行竞争。这份合同由三个价格组成。它允许买家在知道确切的市场需求之前购买固定数量和预留期权。在实现准确的需求后，买家可以选择要行使的期权数量。本文的目的是为买家确定一个最优的订货和选择策略。它还确定了供应商的最优投标策略。此外，这份合同将被比作纯期权合同。通过数值检验，这些合同是合理的，并且发现买家更喜欢低成本的产品，以满足具有较高实现概率的需求。此外，研究还发现，在均衡情况下，本地供应商从行使的期权中赚取利润，而海外供应商从保留的期权中获利。在相同条件下，与纯期权合同相比，承诺期权价格为供应商提供了更大的利润。
This paper considers an option contract in a two-stage two suppliers-one buyer supply chain (SC) when market demand is stochastic. The suppliers compete by offering a commitment option contract to the buyer. The contract is composed of three prices. It allows the buyer to purchase a firm quantity and reserve options before knowing the exact market demand. After realizing the exact demand, the buyer can choose the number of options to exercise. The aim of this paper is to determine an optimal ordering and selection strategy for the buyer. It also determines an optimal bidding strategy for the suppliers. Furthermore, this contract will be compared to a pure option contract. These contracts are justified through numerical examination, and it was found that buyers prefer the lower-cost products as as to satisfy the demand with a higher realization probability. Furthermore, it was found that in equilibrium, local suppliers earn profit from the exercised options, whereas overseas suppliers earn profit from the reserved options. The paper also shows that the commitment option price provides suppliers with a greater profit in comparison to a pure option contract under the same conditions.