Abstract While carbon tax policies are widely implemented to reduce emissions, they also increase costs, which has caused controversy in recent years. This new issue motivates us to consider whether a manufacturer should invest in sustainable technology and to study the effects of risk aversion on coordinating a two-stage supply chain comprising of a single manufacturer and a single retailer under a carbon tax policy, which has not been fully investigated in the existing literature. In the mean-variance framework, two optimization models for manufacturer-led decentralized systems with and without technology investment are first developed and then compared to show that the economic and environmental performance of the supply chain can be improved by investing in sustainable technology. An optimization model for a centralized supply chain with technology investment is then solved to derive several coordination conditions. A revenue-sharing contract and a two-part tariff contract are proposed to coordinate the manufacturer-led decentralized system with technology investment. The results show that the former cannot coordinate the supply chain, while the latter can do it only if the retailer is risk-averse. Numerical examples are further offered to illustrate the effects of risk aversion on system coordination under the two-part tariff contract.

中文翻译：

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碳税政策下可持续性投资和风险规避对两阶段供应链协调的影响

摘要 碳税政策在广泛实施减排的同时，也增加了成本，近年来引起了争议。这个新问题促使我们考虑制造商是否应该投资可持续技术，并研究风险规避对协调碳税政策下由单一制造商和单一零售商组成的两阶段供应链的影响，该政策尚未在现有文献中进行了充分研究。在均值方差框架中，首先开发了有和没有技术投资的制造商主导的分散系统的两种优化模型，然后进行比较，以表明通过投资可持续技术可以改善供应链的经济和环境绩效。然后求解具有技术投资的集中式供应链的优化模型，以推导出多个协调条件。提出了收入分成合同和两部分关税合同，以协调制造商主导的分散系统与技术投资。结果表明，前者不能协调供应链，而后者只有在零售商规避风险的情况下才能做到。进一步提供了数值例子来说明两部分关税合同下风险规避对系统协调的影响。结果表明，前者不能协调供应链，而后者只有在零售商规避风险的情况下才能做到。进一步提供了数值例子来说明两部分关税合同下风险规避对系统协调的影响。结果表明，前者不能协调供应链，而后者只有在零售商规避风险的情况下才能做到。进一步提供了数值例子来说明两部分关税合同下风险规避对系统协调的影响。