Dual-Channel Decisions under Blockchain and Returns

Table 2

Symbols and notations.

Notations	Definitions
	Channel , where and 1 and 2 refer to the online channel and offline channel, respectively
	Supply chain members , where , and and refer to the manufacturer and the retailer, respectively
	The total utility obtained by the consumer
	Consumers’ willingness to pay
	The online product value perception discount percentage
	Consumer time loss sensitivity coefficient
	Product validation time for channel without blockchain technology
	Product validation time for channel with blockchain technology
	The return hassle cost for channel
	The probability of the product being verified as quality
	The unit validation fee paid by the retailer to the manufacturer
	A fixed fee for the manufacturer to introduce blockchain technology
	The manufacturer’s wholesale price
	The retail unit price of channel
	Demand of channel
	Profit of member