Logistics management class lectures_267075684-sucky3

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European Journal of Operational Research 171 (2006) 516535www.elsevier.com/locate/ejorProduction, Manufacturing and LogisticsA bargaining model with asymmetric informationfor a single suppliersingle buyer problemEric Sucky*Department of Supply Chain Management, School of Business and Economics, Goethe-University Frankfurt,Mertonstr. 17, 60054 Frankfurt, GermanyReceived 7 December 2001; accepted 23 August 2004Available online 30 October 2004AbstractBanerjees joint economic lot size (JELS) model represents one approach to minimizing the joint total relevant costof a buyer and a supplier by using a joint optimal order and production policy. The implementation of a jointly optimalpolicy requires coordination and cooperation. Should the buyer have the market power to implement his own optimalpolicy as that one to be used in the exchange process no incentive exists for him to choose a joint optimal policy. Ajoint policy can therefore only be the result of a bargaining process between the parties involved. The supplier maymake some sort of concession such as a price discount or a side payment in order to inuence the buyers order policy.A critical assumption made throughout in supply chain literature is that the supplier has complete knowledge about thebuyers cost structure. Clearly, this assumption will seldom be fullled in practice. The research presented in this paperprovides a bargaining model with asymmetric information about the buyer

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