Recycling of Retired Power Batteries Considering Cascade Utilization under Loss Aversion
With the popularity of electric vehicles and the development of electric energy storage technol-ogies,power batteries,as a core component of electric vehicles,have become an increasingly more essential link in the national campaign to transit from fossil energy to electric energy.The working lifespan of a power battery is usually 8 to 10 years.Therefore,with the increase in electric vehicle parc,how to effectively recy-cle and utilize retired power batteries has become one of the important issues to be solved.The treatment of waste power batteries has become a key issue relating to the continued prosperity of the current and future new energy vehicle industry.In this paper,in order to help power battery manufacturers avoid losses in the"mass retirement of power batteries"and properly handle the recycling and reusing of retired power batteries,targeting at a closed-loop supply chain of retired power battery recycling business consisting of a loss-averse power battery manufactur-er,a risk-neutral automobile enterprise,a consumer market and a cascade utilization market,under the con-dition of uncertain potential retired power battery supply,and assuming that the power battery manufacturer is the loss-averse leader of the supply chain and the automobile enterprise a follower,both risk-neutral,we constructed the competitive model and profit function between the two under three decision-making com-binations to explore the differences in the manufacturer's recycling volume and the automobile enterprise's recycling price under different models and conducted the relevant sensitivity and equilibrium analysis.Specif-ically,we first constructed the automobile enterprise recycling model with fixed recycling price,the automo-bile enterprise recycling model with uncertain recycling price,and the manufacturer and automobile enter-prise joint recycling model respectively,and looked at the automobile enterprise's recycling price,the manu-facturer's recycling price and recycling volume,which indicated that the direct participation of the manufac-turer in the recycling business is helpful to increase the total recycling volume.Then,we analyzed the sensi-tivity of the recycling volume parameter,pointing out that higher eligibility for cascade utilization,deepened aversion to loss,and reduced potential market supply will lower the recycling volume.Finally,a numerical experiment was used to demonstrate the impact of the above parameters on corporate utility,indicating that automobile enterprises'participation in recycling price decision-making could increase corporate profits,and manufacturers are thus recommended to launch direct recycling business because their direct participa-tion could further stimulate corporate benefits.
loss aversioncascade utilizationretired power batteryclosed-loop supply chain
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