关键词: 资金约束, 碳限额交易, 公平关切, 产出不确定

Abstract:

Under the carbon cap-and-trade mechanism， in a two-echelon supply chain comprised of a capital-sufficient supplier and a capital-constrained manufacturer with yield uncertainty， when there exists two financing mode the bank lending credit and trade credit， the decision-making of carbon emission reduction and price of supply chain is studied that the supplier and the manufacturer all have fairness concerns. The equilibrium strategy of the members and the financing decision of the manufacturer are achieved by Stackelberg game model. The impacts of fairness concerns and yield uncertainty etc. on the equilibrium decisions，the members’ profit and system-wide profit of supply chain are also analyzed. The results show that： （1） When the interest rate of trade credit is not less than that of bank lending credit， the manufacturer should choose trade credit as financing policy. If the interest rate of bank lending credit is larger than that of trade credit， the choice of the manufacturer’s financing policy depends on the initial working capital. （2） The carbon emission reduction， order quantity， profit of supplier and the whole supply chain are negatively correlated with fairness concern of both manufacturer and supplier. The wholesale price is positively correlated with supplier’s fairness concerns while negatively correlated with manufacturer’s fairness concerns， and the manufacturer’s profit is positively correlated with its own fairness concern while negatively correlated with supplier’s fairness concerns. （3） The yield uncertainty has a negative impact on carbon emission reduction， order quantity and the system-wide profit and members’ profits of the whole supply chain， and has nothing to do with the supplier’s wholesale price. The consumers’ low-carbon preference is positively correlated with manufacturer’s order quantity and carbon emission reduction， system-wide profit and member’s profit of supply chain， and has no influence on the supplier’s wholesale price； The carbon trade price is negatively correlated with the wholesale price， and the impacts of carbon trade price on the optimal decisions of manufacturer， system-wide profit and member’s profit of supply chain is related to the value range of price. Finally， some numerical examples are used to verify the theoretical results.

Key words: capital constraint, cap-and-trade, fairness concerns, yield uncertainty