A Flexible Extended Warranty and Related Optimal Strategies

The choice of extended warranties (EWs) currently available to consumers is extremely limited. Their EW purchase decisions have to be made at or very close to the time that they purchase the products and, at this point, they are uncertain about item reliability, future operating costs, and usage tim...

Ausführliche Beschreibung

Bibliographische Detailangaben
Veröffentlicht in:	The Journal of the Operational Research Society. - Taylor & Francis, Ltd.. - 58(2007), 12, Seite 1612-1620
1. Verfasser:	Jack, N. (VerfasserIn)
Weitere Verfasser:	Murthy, D. N. P.
Format:	Online-Aufsatz
Sprache:	English
Veröffentlicht:	2007
Zugriff auf das übergeordnete Werk:	The Journal of the Operational Research Society
Schlagworte:	Warranty Maintenance and Replacement Strategies Stochastic Models Game Theory Mathematics Economics Law Business Behavioral sciences


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520			\|a The choice of extended warranties (EWs) currently available to consumers is extremely limited. Their EW purchase decisions have to be made at or very close to the time that they purchase the products and, at this point, they are uncertain about item reliability, future operating costs, and usage time before replacement. In this paper, we discuss an EW that offers more flexibility and we investigate optimal pricing strategies for the EW provider and optimal maintenance and replacement strategies for the consumer.
540			\|a Copyright 2007 Operational Research Society Ltd.
650		4	\|a Warranty
650		4	\|a Maintenance and Replacement Strategies
650		4	\|a Stochastic Models
650		4	\|a Game Theory
650		4	\|a Mathematics \|x Applied mathematics \|x Game theory \|x Strategic behavior \|x Optimal strategies
650		4	\|a Economics \|x Economic disciplines \|x Financial economics \|x Finance \|x Financial analysis \|x Risk management \|x Risk aversion
650		4	\|a Law \|x Civil law \|x Contract law \|x Contracts \|x Guarantees \|x Warranties \|x Extended warranties
650		4	\|a Business \|x Business administration \|x Business management \|x Capital management \|x Profit planning \|x Profit per unit
650		4	\|a Law \|x Civil law \|x Contract law \|x Contracts \|x Guarantees \|x Warranties
650		4	\|a Behavioral sciences \|x Psychology \|x Cognitive psychology \|x Decision theory \|x Operations research
650		4	\|a Business \|x Business economics \|x Commercial production \|x Production factors \|x Production costs \|x Unit costs
650		4	\|a Economics \|x Economic disciplines \|x Financial economics \|x Finance \|x Financial analysis \|x Cost analysis
650		4	\|a Business \|x Accountancy \|x Financial accounting \|x Business expenses \|x Fixed costs \|x Committed fixed costs \|x Occupancy costs \|x Maintenance costs
650		4	\|a Economics \|x Economic disciplines \|x Consumer economics \|x Theoretical Papers
655		4	\|a research-article
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856	4	0	\|u https://www.jstor.org/stable/4622858 \|3 Volltext
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