Competitive dynamics in blockchain-based supply chains under cryptocurrency volatility: a game theory approach
用博弈论分析加密货币波动下制造商与零售商（以太坊和比特币）的定价、广告、补贴和网络安全策略，为管理者提供应对波动的竞争策略。
The increasing integration of blockchain technology in supply chains has brought about significant challenges due to the volatility of cryptocurrencies, as it has become an essential aspect of customers’ risk considerations. This study addresses the problem of managing supply chain operations amid such volatility, focusing specifically on pricing, advertising, manufacturer subsidy, and cybersecurity strategies within a manufacturer-retailer framework involving two cryptocurrency-based retailers that have higher market capitalisation compared to others: Ethereum and Bitcoin. The proposed solution employs game theory – a simultaneous game and two Stackelberg games with either retailer as the leader – to identify optimal strategies based on the corresponding parameter values. Accordingly, the study uniquely delivers blockchain-related risks by applying game theory to analyze the decision variables, providing insights into competitive pricing adjustments and leadership strategies for the cryptocurrency-based retailers under varying volatility levels. Results demonstrate that retailer pricing strategies must adapt to changes in wholesale prices and to the difference in cryptocurrency volatility. It also identifies crucial subsidy levels for manufacturers and optimal strategies for retailers under different volatility conditions to sustain profitability and demand.