Abstract: In order to explore the pricing decision-making problem of closed-loop supply chain, based on different leaders and waste recycling channels in the market, four old-fashioned recycling models were established, and the pricing decisions of manufacturers and retailers in each model were compared and analyzed. The research shows that: 1) The greater power the enterprise has, the stronger bargaining power it will get, and the more profits it will achieve. 2) The pricing of remanufactured products and the residual value of waste products are only related to the recycling channels of waste products. They are not related to market leaders. 3) The potential consumer can get more residual value when the manufacturer recycles the waste, but it will harm the interests of the original consumer. 4) Manufacturers can encourage more consumers to participate in replacement and increase the recycling rate of used products by appropriately reducing the durability of new products and increasing consumer acceptance of remanufactured products, which in turn promotes remanufactured products to the market.

Key words: closed-loop supply chain, recycling channels, replacement