Abstract: With the method of mathematical statistics, game theory and numerical analysis, this paper studied the influences that the risk-prefer retailer's innovative decision and information sharing would make on the supply chain company's expected revenue on the basis of CVaR. The results show that the risk preference can increase both the retailer's innovation investment level and the sales. If the retailer's risk aversion increases, the retailer's innovation investment level and the sales decrease. But if the retailer shares the risk preference information with the manufacturer, the retailer's innovation investment level and the expected revenue will increase. As for the manufacturer, the information of the retailer's risk preference does not always help to increase the expected revenue.