In the information age,consumers can easily get the reference price of products,and the reference price effect plays an important role in consumers'purchase behavior.Under the carbon tax policy,considering the emission reduction investment of the manufacturer in the supply chain,this paper studies optimal decision-making issues in three situations,and constructs three kinds of low carbon supply chain models respectively concerning no fairness concern,the fairness concern of the retailer and the fairness concern of the manufacturer.The results show that the relationship between prices of products,emission reduction investment rate and reference price effect depend on the reference price.Only when the reference price is higher than a certain critical value,the prices of products,emission reduction investment rate and reference price effect are positively correlated.When the retailer has fairness concern,the prices of products and emission reduction investment rate are negatively related to the coefficient of fairness concern,and are always smaller than those when there is no fairness concern;when the manufacturer has fairness concern,the prices of products and emission reduction investment rate are positively correlated with the coefficient of fairness concern,and are always greater than when there is no fairness concern.The above results have important practical significance for the emission reduction investment of the manufacturer and the fairness concern behavior of enterprises.