Table 1 Symbols and meanings.
Symbols | Meanings |
|---|---|
State variable | |
\(G(t)\) | Quality of pharmaceuticals |
\(Q(t)\) | Level of traceability of pharmaceuticals |
Decision variables | |
\(R(t)\) | Level of manufacturer’s quality assurance efforts |
\({B_{\text{M}}}(t)\) | Blockchain technology input from manufacturers |
\({B_{\text{P}}}(t)\) | Blockchain technology inputs for e-commerce platforms |
\({B_{\text{R}}}(t)\) | Blockchain technology input from traditional retailers |
\({p_{\text{1}}}(t)\) | Sales price of pharmaceuticals in offline channels |
\({p_2}(t)\) | Price of pharmaceuticals sold through online channels |
Parameters | |
w | Wholesale prices for traditional retailers |
a | Market size before introduction of blockchain |
\(\varepsilon\) | Market size after the introduction of blockchain |
b | Consumers’ out-of-pocket percentage |
\(\chi\) | Commission rates charged by the platform |
\(\eta\) | Percentage of consumers purchasing through online channels |
h | Time spent inspecting pharmaceuticals before the introduction of blockchain |
\(\overline {h}\) | Time spent inspecting pharmaceuticals after the introduction of blockchain |
\(\Delta\) | Percentage of pharmaceutical tests that are true |
\(\tau\) | Consumer sensitivity factor to the timing and results of pharmaceutical tests |
\(\rho\) | Discount rate |
\(\phi\) | Intensity of competition between online and offline channels |
\(\lambda\) | Coefficient of impact of quality assurance inputs on brand goodwill |
\(\varphi\) | Coefficient of impact of manufacturer blockchain investment on the level of pharmaceutical traceability |
\(\omega\) | Coefficient of impact of e-commerce platform blockchain investment on the level of pharmaceutical traceability |
\(\psi\) | Coefficient of impact of traditional retailer blockchain investment on the level of traceability of pharmaceuticals |
\(\theta\) | Sensitivity factor of consumers to the quality of pharmaceuticals |
\(\beta\) | Consumer sensitivity factor to the level of traceability of pharmaceuticals |
\(\kappa\) | Manufacturer quality assurance input cost factors |
\({\mu _i}(i=1,2.3)\) | Blockchain technology input cost factor |
\(\delta\) | Pharmaceutical quality attenuation factor |
\(\alpha\) | Attenuation factor for traceability level of pharmaceuticals |
