{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,31]],"date-time":"2026-03-31T21:19:39Z","timestamp":1774991979492,"version":"3.50.1"},"reference-count":48,"publisher":"Springer Science and Business Media LLC","issue":"1-2","license":[{"start":{"date-parts":[[2015,8,25]],"date-time":"2015-08-25T00:00:00Z","timestamp":1440460800000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"content-domain":{"domain":["link.springer.com"],"crossmark-restriction":false},"short-container-title":["Ann Oper Res"],"published-print":{"date-parts":[[2017,10]]},"DOI":"10.1007\/s10479-015-1964-8","type":"journal-article","created":{"date-parts":[[2015,8,24]],"date-time":"2015-08-24T02:21:50Z","timestamp":1440382910000},"page":"697-719","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":55,"title":["Risk hedging via option contracts in a random yield supply chain"],"prefix":"10.1007","volume":"257","author":[{"given":"Jiarong","family":"Luo","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Xu","family":"Chen","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"297","published-online":{"date-parts":[[2015,8,25]]},"reference":[{"issue":"1","key":"1964_CR1","doi-asserted-by":"crossref","first-page":"45","DOI":"10.1007\/s10479-006-7371-4","volume":"143","author":"FJ Arcelus","year":"2006","unstructured":"Arcelus, F. J., Pakkala, T. P. M., & Srinivasan, G. (2006). On the interaction between retailers inventory policies and manufacturer trade deals in response to supply-uncertainty occurrences. Annals of Operations Research, 143(1), 45\u201358.","journal-title":"Annals of Operations Research"},{"key":"1964_CR2","doi-asserted-by":"crossref","first-page":"171","DOI":"10.1287\/msom.4.3.171.7754","volume":"4","author":"D Barnes-Schuster","year":"2002","unstructured":"Barnes-Schuster, D., Bassok, Y., & Anupindi, R. (2002). Coordination and flexibility in supply contracts with options. Manufacturing & Service Operations Management, 4, 171\u2013207.","journal-title":"Manufacturing & Service Operations Management"},{"issue":"5","key":"1964_CR3","first-page":"479","volume":"34","author":"Y Bassok","year":"2002","unstructured":"Bassok, Y., Hopp, W. J., & Rohatgi, M. (2002). A simple linear heuristic for the service constrained random yield problem. IIE Transactions, 34(5), 479\u2013487.","journal-title":"IIE Transactions"},{"key":"1964_CR4","unstructured":"BBC. (2006). PlayStation 3 Euro launch delayed, 6 September, available online from \n                        http:\/\/news.bbc.co.uk\/2\/hi\/technology\/5319190.stm\n                        \n                     Accessed October 17, 2014."},{"issue":"5","key":"1964_CR5","doi-asserted-by":"crossref","first-page":"629","DOI":"10.1287\/mnsc.47.5.629.10486","volume":"47","author":"GP Cachon","year":"2001","unstructured":"Cachon, G. P., & Lariviere, M. A. (2001). Contracting to assure supply: How to share demand forecasts in a supply chain. Management science, 47(5), 629\u2013646.","journal-title":"Management science"},{"key":"1964_CR6","doi-asserted-by":"crossref","first-page":"481","DOI":"10.1080\/07408170600941607","volume":"39","author":"F Chen","year":"2007","unstructured":"Chen, F., & Parlar, M. (2007). Value of a put option to the risk-averse newsvendor. IIE Transactions, 39, 481\u2013500.","journal-title":"IIE Transactions"},{"key":"1964_CR7","doi-asserted-by":"crossref","first-page":"52","DOI":"10.1016\/j.ijpe.2013.12.004","volume":"150","author":"X Chen","year":"2014","unstructured":"Chen, X., Hao, G., & Li, L. (2014). Channel coordination with a loss-averse retailer and option contracts. International Journal of Production Economics, 150, 52\u201357.","journal-title":"International Journal of Production Economics"},{"key":"1964_CR8","doi-asserted-by":"crossref","first-page":"805","DOI":"10.1080\/0740817X.2011.649383","volume":"44","author":"X Chen","year":"2012","unstructured":"Chen, X., & Shen, Z. (2012). An analysis of a supply chain with options contracts and service requirements. IIE Transactions, 44, 805\u2013819.","journal-title":"IIE Transactions"},{"key":"1964_CR9","doi-asserted-by":"crossref","first-page":"11","DOI":"10.1016\/j.omega.2014.11.008","volume":"53","author":"X Chen","year":"2015","unstructured":"Chen, X., & Wang, X. J. (2015). Free or bundled: Channel selection decisions under different power structures. OMEGA-International Journal of Management Science, 53, 11\u201320.","journal-title":"OMEGA-International Journal of Management Science"},{"key":"1964_CR10","doi-asserted-by":"publisher","unstructured":"Chen, X., Wang, X. J., & Jiang, X. K. (2015). The impact of power structure on retail service supply chain with an O2O mixed channel. Journal of the Operational Research Society. doi:\n                        10.1057\/jors.2015.6","DOI":"10.1057\/jors.2015.6"},{"issue":"2","key":"1964_CR11","doi-asserted-by":"crossref","first-page":"131","DOI":"10.2307\/41166169","volume":"45","author":"GS Day","year":"2003","unstructured":"Day, G. S., Fein, A. J., & Ruppersberger, G. (2003). Shakeouts in digital markets: Lessons from B2B exchanges. California Management Review, 45(2), 131\u2013150.","journal-title":"California Management Review"},{"issue":"2","key":"1964_CR12","doi-asserted-by":"crossref","first-page":"232","DOI":"10.1111\/j.1937-5956.2005.tb00021.x","volume":"14","author":"M Erkoc","year":"2005","unstructured":"Erkoc, M., & Wu, S. D. (2005). Managing high-tech capacity expansion via reservation contracts. Production and Operations Management, 14(2), 232\u2013251.","journal-title":"Production and Operations Management"},{"issue":"1","key":"1964_CR13","doi-asserted-by":"crossref","first-page":"189","DOI":"10.1016\/j.ijpe.2008.06.002","volume":"115","author":"Y Feng","year":"2008","unstructured":"Feng, Y., D\u2019Amours, S., & Beauregard, R. (2008). The value of sales and operations planning in oriented strand board industry with make-to-order manufacturing system: cross functional integration under deterministic demand and spot market recourse. International Journal of Production Economics, 115(1), 189\u2013209.","journal-title":"International Journal of Production Economics"},{"issue":"11","key":"1964_CR14","doi-asserted-by":"crossref","first-page":"793","DOI":"10.1080\/07408171003670983","volume":"42","author":"Q Fu","year":"2010","unstructured":"Fu, Q., Lee, C. Y., & Teo, C. P. (2010). Procurement risk management using option contracts: random spot price and the portfolio effect. IIE Transactions, 42(11), 793\u2013811.","journal-title":"IIE Transactions"},{"issue":"2","key":"1964_CR15","doi-asserted-by":"crossref","first-page":"361","DOI":"10.1111\/j.1937-5956.2011.01255.x","volume":"21","author":"Q Fu","year":"2012","unstructured":"Fu, Q., Zhou, S. X., Chao, X. L., & Lee, C. Y. (2012). Combined pricing and portfolio option procurement. Production and Operations Management, 21(2), 361\u2013377.","journal-title":"Production and Operations Management"},{"key":"1964_CR16","first-page":"277","volume":"62","author":"S Gavirneni","year":"2004","unstructured":"Gavirneni, S. (2004). Supply chain management at a chip tester manufacturer. The practice of supply chain management: Where theory and application converge, 62, 277\u2013291.","journal-title":"The practice of supply chain management: Where theory and application converge"},{"key":"1964_CR17","doi-asserted-by":"crossref","first-page":"1412","DOI":"10.1057\/palgrave.jors.2602401","volume":"58","author":"\u00c7 Haks\u00f6z","year":"2007","unstructured":"Haks\u00f6z, \u00c7., & Seshadri, S. (2007). Supply chain operations in the presence of a spot market: A review with discussion. Journal of the Operational Research Society, 58, 1412\u20131429.","journal-title":"Journal of the Operational Research Society"},{"issue":"4","key":"1964_CR18","doi-asserted-by":"crossref","first-page":"634","DOI":"10.1287\/opre.38.4.634","volume":"38","author":"M Henig","year":"1990","unstructured":"Henig, M., & Gerchak, Y. (1990). The structure of periodic review policies in the presence of random yield. Operational Research, 38(4), 634\u2013643.","journal-title":"Operational Research"},{"key":"1964_CR19","doi-asserted-by":"crossref","first-page":"769","DOI":"10.1016\/j.ijpe.2007.06.003","volume":"112","author":"Y He","year":"2008","unstructured":"He, Y., & Zhang, J. (2008). Random yield risk sharing in a two-echelon supply chain. International Journal of Production Research, 112, 769\u2013781.","journal-title":"International Journal of Production Research"},{"issue":"2","key":"1964_CR20","doi-asserted-by":"crossref","first-page":"686","DOI":"10.1016\/j.ijpe.2013.08.024","volume":"146","author":"F Hu","year":"2013","unstructured":"Hu, F., Li, C. C., & Lu, Z. D. (2013). Coordination of supply chains with a flexible ordering policy under yield and demand uncertainty. International Journal of Production Economics, 146(2), 686\u2013693.","journal-title":"International Journal of Production Economics"},{"issue":"1","key":"1964_CR21","doi-asserted-by":"crossref","first-page":"287","DOI":"10.1007\/s10479-012-1194-2","volume":"201","author":"X Hu","year":"2012","unstructured":"Hu, X., Munson, C. L., & Fotopoulos, S. B. (2012). Purchasing decisions under stochastic prices: Approximate solutions for order time, order quantity and supplier selection. Annals of Operations Research, 201(1), 287\u2013305.","journal-title":"Annals of Operations Research"},{"issue":"2","key":"1964_CR22","doi-asserted-by":"crossref","first-page":"525","DOI":"10.1007\/s00291-012-0314-3","volume":"36","author":"K Inderfurth","year":"2014","unstructured":"Inderfurth, K., & Clemen, J. (2014). Supply chain coordination by risk sharing contracts under random production yield and deterministic demand. OR Spectrum, 36(2), 525\u2013556.","journal-title":"OR Spectrum"},{"key":"1964_CR23","volume-title":"A min\u2013max solution of an inventory problem","author":"S Karlin","year":"1958","unstructured":"Karlin, S. (1958). A min\u2013max solution of an inventory problem. Stanford: Stanford University Press."},{"issue":"1","key":"1964_CR24","doi-asserted-by":"crossref","first-page":"101","DOI":"10.1109\/TEM.2013.2266418","volume":"61","author":"A Kaki","year":"2014","unstructured":"Kaki, A., Salo, A., & Talluri, S. (2014). Scenario-based modelling of interdependent demand and supply uncertainties. IEEE Transactions on Engineering Management, 61(1), 101\u2013113.","journal-title":"IEEE Transactions on Engineering Management"},{"issue":"3","key":"1964_CR25","doi-asserted-by":"crossref","first-page":"209","DOI":"10.1287\/msom.1030.0024","volume":"6","author":"B Kazaz","year":"2004","unstructured":"Kazaz, B. (2004). Production planning under yield and demand uncertainty with yield-dependent cost and price. Manufacturing & Service Operations Management, 6(3), 209\u2013224.","journal-title":"Manufacturing & Service Operations Management"},{"issue":"7","key":"1964_CR26","doi-asserted-by":"crossref","first-page":"801","DOI":"10.1016\/j.omega.2008.07.006","volume":"37","author":"B Keren","year":"2009","unstructured":"Keren, B. (2009). The single period inventory problem: Extension to random yield from the perspective of the supply chain. Omega, 37(7), 801\u2013810.","journal-title":"Omega"},{"issue":"1","key":"1964_CR27","doi-asserted-by":"crossref","first-page":"53","DOI":"10.1111\/j.1937-5956.2005.tb00009.x","volume":"14","author":"PR Kleindorfer","year":"2005","unstructured":"Kleindorfer, P. R., & Saad, G. (2005). Managing disruption risks in supply chains. Production and Operations Management, 14(1), 53\u201368.","journal-title":"Production and Operations Management"},{"issue":"1\u20134","key":"1964_CR28","doi-asserted-by":"crossref","first-page":"159","DOI":"10.1023\/B:ANOR.0000012279.78938.6b","volume":"126","author":"J Li","year":"2004","unstructured":"Li, J., Enginarlar, E., & Meerkov, S. M. (2004). Random demand satisfaction in unreliable production\u2013inventory\u2013customer systems. Annals of Operations Research, 126(1\u20134), 159\u2013175.","journal-title":"Annals of Operations Research"},{"issue":"5","key":"1964_CR29","doi-asserted-by":"crossref","first-page":"601","DOI":"10.1016\/j.omega.2011.12.003","volume":"40","author":"X Li","year":"2012","unstructured":"Li, X., Li, Y. J., & Cai, X. Q. (2012). A note on the random yield from the perspective of the supply chain. Omega, 40(5), 601\u2013610.","journal-title":"Omega"},{"issue":"2","key":"1964_CR30","doi-asserted-by":"crossref","first-page":"228","DOI":"10.1016\/j.ejor.2012.10.047","volume":"226","author":"X Li","year":"2013","unstructured":"Li, X., Li, Y. J., & Cai, X. Q. (2013). Double marginalization and coordination in the supply chain with uncertain supply. European Journal of Operational Research, 226(2), 228\u2013236.","journal-title":"European Journal of Operational Research"},{"key":"1964_CR31","doi-asserted-by":"crossref","first-page":"112","DOI":"10.1016\/j.ijpe.2014.01.019","volume":"151","author":"Z Liu","year":"2014","unstructured":"Liu, Z., Chen, L., Li, L., & Zhai, X. (2014). Risk hedging in a supply chain: Option vs. price discount. International Journal of Production Economics, 151, 112\u2013120.","journal-title":"International Journal of Production Economics"},{"key":"1964_CR32","doi-asserted-by":"publisher","unstructured":"Luo, J. R., & Chen, X. (2015). Coordination of a random yield supply chain with a loss-averse supplier. Mathematical Problems in Engineering. Article ID 192147, 11 pp. doi:\n                        10.1155\/2015\/192147\n                        \n                    .","DOI":"10.1155\/2015\/192147"},{"issue":"5","key":"1964_CR33","doi-asserted-by":"crossref","first-page":"1082","DOI":"10.1287\/opre.1090.0735","volume":"57","author":"V Mart\u00ednez-de-Alb\u00e9niz","year":"2009","unstructured":"Mart\u00ednez-de-Alb\u00e9niz, V., & Simchi-Levi, D. (2009). Competition in the supply option market. Operations Research, 57(5), 1082\u20131097.","journal-title":"Operations Research"},{"key":"1964_CR34","unstructured":"Martell, D. (2004). IBM\u2019s chip woes weigh on Apple. Reuters News, 17 July. \n                        http:\/\/expressindia.indianexpress.com\/news\/fullstory.php?newsid=33890\n                        \n                    . Accessed October 12, 2014."},{"issue":"21","key":"1964_CR35","doi-asserted-by":"crossref","first-page":"6410","DOI":"10.1080\/00207543.2013.813987","volume":"51","author":"SH Ma","year":"2013","unstructured":"Ma, S. H., Yin, Z., & Guan, Xu. (2013). The role of spot market in a decentralised supply chain under random yield. International Journal of Production Research, 51(21), 6410\u20136434.","journal-title":"International Journal of Production Research"},{"key":"1964_CR36","doi-asserted-by":"crossref","first-page":"51","DOI":"10.1287\/inte.1070.0333","volume":"38","author":"V Nagali","year":"2008","unstructured":"Nagali, V., Hwang, J., Sanghera, D., Gaskins, M., Pridgen, M., Thurston, T., et al. (2008). Procurement risk management (PRM) at Hewlett-Packard company. Interfaces, 38, 51\u201360.","journal-title":"Interfaces"},{"key":"1964_CR37","doi-asserted-by":"crossref","first-page":"123","DOI":"10.1023\/A:1018937420735","volume":"91","author":"S \u00d6zekici","year":"1999","unstructured":"\u00d6zekici, S., & Parlar, M. (1999). Inventory models with unreliable suppliers in a random environment. Annals of Operations Research, 91, 123\u2013136.","journal-title":"Annals of Operations Research"},{"issue":"6","key":"1964_CR38","doi-asserted-by":"crossref","first-page":"677","DOI":"10.1080\/00207548008919699","volume":"18","author":"W Shih","year":"1980","unstructured":"Shih, W. (1980). Optimal inventory policies when stockouts result from defective products. International Journal of Production Research, 18(6), 677\u2013685.","journal-title":"International Journal of Production Research"},{"issue":"3","key":"1964_CR39","first-page":"15","volume":"6","author":"P Singhal","year":"2011","unstructured":"Singhal, P., Agarwal, G., & Mittal, M. L. (2011). Supply chain risk management: Review, classification and future research directions. Journal of Business Science and Applied Management, 6(3), 15\u201342.","journal-title":"Journal of Business Science and Applied Management"},{"issue":"12","key":"1964_CR40","doi-asserted-by":"crossref","first-page":"2089","DOI":"10.1111\/poms.12240","volume":"23","author":"SY Tang","year":"2014","unstructured":"Tang, S. Y., & Kouvelis, P. (2014). Pay-back-revenue-sharing contract in coordinating supply chains with random yield. Production and Operations Management, 23(12), 2089\u20132102.","journal-title":"Production and Operations Management"},{"key":"1964_CR41","unstructured":"Vilches, J. (2009). TSMC 40nm yield issues to affect AMD and Nvidia. TechSpot, available online from \n                        http:\/\/www.techspot.com\/news\/36781-tsmc-40nm-yield-issues-to-affect-amd-and-nvidia.html\n                        \n                    . Accessed October 17 , 2014."},{"issue":"7","key":"1964_CR42","doi-asserted-by":"crossref","first-page":"1955","DOI":"10.1080\/00207540701666220","volume":"47","author":"CX Wang","year":"2009","unstructured":"Wang, C. X. (2009). Random yield and uncertain demand in decentralised supply chains under the traditional and VMI arrangements. International Journal of Production Research, 47(7), 1955\u20131968.","journal-title":"International Journal of Production Research"},{"issue":"20","key":"1964_CR43","doi-asserted-by":"crossref","first-page":"6279","DOI":"10.1080\/00207543.2015.1053577","volume":"53","author":"C Wang","year":"2015","unstructured":"Wang, C., & Chen, X. (2015). Optimal ordering policy for a price-setting newsvendor with option contracts under demand uncertainty. International Journal of Production Research, 53(20), 6279\u20136293.","journal-title":"International Journal of Production Research"},{"issue":"3","key":"1964_CR44","doi-asserted-by":"crossref","first-page":"452","DOI":"10.1287\/mnsc.1040.0341","volume":"51","author":"DJ Wu","year":"2005","unstructured":"Wu, D. J., & Kleindorfer, P. R. (2005). Competitive options, supply contracting, and electronic markets. Management Science, 51(3), 452\u2013466.","journal-title":"Management Science"},{"issue":"3","key":"1964_CR45","doi-asserted-by":"crossref","first-page":"657","DOI":"10.1016\/S0377-2217(01)00093-5","volume":"137","author":"DJ Wu","year":"2002","unstructured":"Wu, D. J., Kleindorfer, P., & Zhang, J. E. (2002). Optimal bidding and contracting strategies for capital-intensive goods. European Journal of Operational Research, 137(3), 657\u2013676.","journal-title":"European Journal of Operational Research"},{"key":"1964_CR46","doi-asserted-by":"crossref","first-page":"43","DOI":"10.1016\/j.dss.2013.01.015","volume":"58","author":"J Wu","year":"2014","unstructured":"Wu, J., Li, L., & Xu, L. D. (2014). A randomized pricing decision support system in electronic commerce. Decision Support Systems, 58, 43\u201352.","journal-title":"Decision Support Systems"},{"issue":"2","key":"1964_CR47","doi-asserted-by":"crossref","first-page":"306","DOI":"10.1016\/j.ijpe.2010.04.007","volume":"126","author":"H Xu","year":"2010","unstructured":"Xu, H. (2010). Managing production and procurement through option contracts in supply chains with random yield. International Journal of Production Economics, 126(2), 306\u2013313.","journal-title":"International Journal of Production Economics"},{"issue":"2","key":"1964_CR48","doi-asserted-by":"crossref","first-page":"668","DOI":"10.1016\/j.ejor.2010.05.017","volume":"207","author":"Y Zhao","year":"2010","unstructured":"Zhao, Y., Wang, S., Cheng, T. C. E., Yang, X., & Huang, Z. (2010). Coordination of supply chains by option contracts: A cooperative game theory approach. European Journal of Operational Research, 207(2), 668\u2013675.","journal-title":"European Journal of Operational Research"}],"container-title":["Annals of Operations Research"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s10479-015-1964-8\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1964-8.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1964-8","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1964-8.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,5,29]],"date-time":"2019-05-29T18:10:01Z","timestamp":1559153401000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s10479-015-1964-8"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2015,8,25]]},"references-count":48,"journal-issue":{"issue":"1-2","published-print":{"date-parts":[[2017,10]]}},"alternative-id":["1964"],"URL":"https:\/\/doi.org\/10.1007\/s10479-015-1964-8","relation":{},"ISSN":["0254-5330","1572-9338"],"issn-type":[{"value":"0254-5330","type":"print"},{"value":"1572-9338","type":"electronic"}],"subject":[],"published":{"date-parts":[[2015,8,25]]}}}