An evolutionary analysis of supply chain collaborative information sharing based on prospect theory
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View abstract on PubMed
Summary
This summary is machine-generated.Supply chain collaboration improves when information sharing costs decrease and coordination benefits increase. Entities are more likely to share information when they are less risk-averse with profits and more risk-seeking with losses.
Area Of Science
- Operations Research
- Supply Chain Management
- Game Theory
Background
- Supply chain collaboration is crucial for efficiency.
- Understanding information sharing dynamics is key.
- Psychological factors influence decision-making.
Purpose Of The Study
- To model the evolution of information sharing decisions.
- To identify factors influencing these decisions in supply chains.
- To analyze strategic choices considering psychological perceptions.
Main Methods
- Constructed an evolutionary game model with suppliers and retailers.
- Integrated game theory and prospect theory.
- Utilized prospect value functions, weight functions, and numerical simulations in Matlab.
Main Results
- Information sharing probability is negatively correlated with cost and positively with coordination benefits.
- Entities with lower risk aversion (profits) and higher risk preference (losses) favor information sharing.
- Reduced sensitivity to losses promotes information sharing.
Conclusions
- Findings offer insights into enhancing supply chain trust and collaboration.
- Recommendations include building information exchange platforms and managing psychological awareness.
- Improved information sharing leads to greater supply chain efficiency.
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