In this paper,we focus on a supply chain consisting of a supplier and an e-tailer which has an online plat-form.By considering the supplier's risk-aversion character,we establish the mean-variance models under the hybrid mode,reselling mode and agency mode.Through comparing and analysing the equilibrium solutions of these models,we explore the optimal sales mode selection of the e-tailer when the supplier is risk-averse.The results show as follows:when the commission rate is low,the e-tailer's optimal choice is the reselling mode regardless of the supplier's risk-aver-sion degree;when the commission rate is high,the e-tailer's optimal choice is the hybrid mode if the supplier's risk-aversion degree is small,otherwise,the e-tailer's optimal choice is the reselling mode.No matter which sales mode the e-tailer chooses,the supplier will suffer from its own increased risk-aversion degree;under the reselling mode and the spe-cific circumstance of the hybrid mode,the e-tailer will benefit from the supplier's increased risk-aversion degree.When the commission rate and the supplier's risk-aversion degree are within a certain range,adopting the hybrid mode by the e-tailer can achieve a win-win situation for the supply chain members.
e-tailerreselling modeagency modehybrid moderisk-aversionmean-variance model
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