IDEAS home Printed from https://ideas.repec.org/a/taf/tprsxx/v63y2025i19p7339-7362.html
   My bibliography  Save this article

Competitive dynamics in blockchain-based supply chains under cryptocurrency volatility: a game theory approach

Author

Listed:
  • Naiema Shirafkan
  • Hamed Rajabzadeh
  • Marcus Wiens

Abstract

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.

Suggested Citation

  • Naiema Shirafkan & Hamed Rajabzadeh & Marcus Wiens, 2025. "Competitive dynamics in blockchain-based supply chains under cryptocurrency volatility: a game theory approach," International Journal of Production Research, Taylor & Francis Journals, vol. 63(19), pages 7339-7362, October.
  • Handle: RePEc:taf:tprsxx:v:63:y:2025:i:19:p:7339-7362
    DOI: 10.1080/00207543.2025.2523527
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00207543.2025.2523527
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/00207543.2025.2523527?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:tprsxx:v:63:y:2025:i:19:p:7339-7362. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TPRS20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.