Research On Optimization Of Shipping Supply Chain Based On Option Contract Under Loss Aversion Environment

With the rapid development of global integration,the international shipping industry,as an economic system connected with the domestic and foreign markets,has a good profit.However,the shipping industry is highly vulnerable to global economic fluctuations,for example,the shipping market in the impact of the financial crisis in 2008,the supply of space in excess of demand phenomenon.Therefore,the particularity of shipping supply chain makes the decision of supply chain become more and more important,and the decision based on the hypothesis of "rational economic man" has a high deviation.Based on the utility function of loss aversion and the theory of multiple psychological accounts,this paper studies the optimal joint decision and option contract synergy of a two-stage supply chain composed of a risk-neutral shipping firm and a loss averse freight forwarder.Firstly,the article based on the loss avoidance utility function and multiple psychological account theory,and the two stage supply chain,which is composed of risk neutral shipping enterprises and loss evasion goods generation,it is used to further expand and study the optimal joint decision of freight forwarding under the option contract.The only optimal market price and the "optimal inventory factor" make the loss evade the maximum expected utility value of the cargo generation,and through the sensitivity analysis,there is a reverse change relationship between the option price,the executive price,the loss evasion coefficient and the "optimal inventory factor".Secondly,the article use functional affine transformation to analyze the synergistic effect of option contract in the environment of loss avoidance under the condition of considering the penalty of shortage and not considering the penalty of shortage respectively.The results show that whether additive demand or multiplicative demand,option contract can make the shipping supply chain with bivariate joint decision to achieve synergy when the penalty of shortage is not considered,but when the penalty of shortage is considered,The option contract can not make the joint decision making of two variables achieve synergy in shipping supply chain.In addition,the sensitivity analysisshows that the relationship between the loss avoidance coefficient and the execution price is reversed.Finally,the article based on the option contract,this paper constructs a three-variable joint decision model for freight forwarding enterprises,and solves the joint optimal solution according to the decision model.Through sensitivity analysis,we can know that the "optimal inventory factor" follows the execution price.The price of option and the coefficient of loss aversion change,and the relationship is reversed.