Welcome to "Revise and Resubmit," the podcast where we explore the latest research shaping the future of business and technology. In today's episode, we dive into the fascinating world of blockchain with a review of Smart Contracts in Supply Chains by Liang Guo, published in the prestigious Journal of Marketing Research, an FT50 journal.
Imagine a world where supply chain transactions happen automatically, transparently, and efficiently—thanks to smart contracts powered by blockchain technology. Guo's study takes us on a journey through the intricate dynamics of a three-level supply chain, revealing how smart contracts can enhance overall efficiency by automating state-dependent pricing. But here's the twist: while the total surplus increases, the individual parties—sellers, middlemen, and buyers—might not all benefit equally. In fact, they could end up worse off, trapped in a modern-day prisoner's dilemma where their rational choices lead to less optimal outcomes for everyone.
As we unpack these findings, one question looms large: Can we find a way to align the incentives of all supply chain participants to fully realize the potential of blockchain without falling into the trap of individual self-interest?
A big thank you to Liang Guo and Journal of Marketing Research for this enlightening study. Don’t forget to subscribe to "Revise and Resubmit" on Spotify, Amazon Prime, and Apple Podcast, and check out our YouTube channel, Weekend Researcher, for more in-depth analyses.
Now, here’s a thought to ponder: Could the key to unlocking the full potential of blockchain in supply chains lie not just in technology, but in the fundamental rethinking of how we collaborate and share value?
Reference
Guo, L. (2025). EXPRESS: Smart Contracts in Supply Chains. Journal of Marketing Research, ahead-of-print. https://doi.org/10.1177/00222437251314003
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