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題名 Determining the optimal warranty price based on the producer`s and customers` risk preferences
作者 Tang, Kwei;Chun, Young Hak
唐揆
貢獻者 企管系
關鍵詞 Warranty analysis; Risk aversion; Stochastic processes
日期 1995
上傳時間 10-Mar-2015 16:50:59 (UTC+8)
摘要 We propose a warranty model for the free-replacement, fixed-period warranty policy that determines the optimal warranty price for a given warranty period. We assume a constant failure rate for the product, constant repair costs throughout the warranty period, and a producer`s and customers` risk aversion for future repair costs. Using the exponential utility function and the gamma failure rate distribution, we derive the decision model that maximizes the producer`s certainty profit equivalent. Furthermore, the sensitivity of the optimal warranty price is analyzed with a numerical example with respect to such factors as (1) the producer`s and customers` risk preferences, (2) their perceptions about the product failure rate, (3) the customers` loyalty to the original producer in repairing failed products, and (4) the customers` repair price.
關聯 European Journal of Operational Research, 85(1), 97-110
資料類型 article
DOI http://dx.doi.org/10.1016/0377-2217(93)E0163-R
dc.contributor 企管系
dc.creator (作者) Tang, Kwei;Chun, Young Hak
dc.creator (作者) 唐揆zh_TW
dc.date (日期) 1995
dc.date.accessioned 10-Mar-2015 16:50:59 (UTC+8)-
dc.date.available 10-Mar-2015 16:50:59 (UTC+8)-
dc.date.issued (上傳時間) 10-Mar-2015 16:50:59 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/73750-
dc.description.abstract (摘要) We propose a warranty model for the free-replacement, fixed-period warranty policy that determines the optimal warranty price for a given warranty period. We assume a constant failure rate for the product, constant repair costs throughout the warranty period, and a producer`s and customers` risk aversion for future repair costs. Using the exponential utility function and the gamma failure rate distribution, we derive the decision model that maximizes the producer`s certainty profit equivalent. Furthermore, the sensitivity of the optimal warranty price is analyzed with a numerical example with respect to such factors as (1) the producer`s and customers` risk preferences, (2) their perceptions about the product failure rate, (3) the customers` loyalty to the original producer in repairing failed products, and (4) the customers` repair price.
dc.format.extent 847500 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) European Journal of Operational Research, 85(1), 97-110
dc.subject (關鍵詞) Warranty analysis; Risk aversion; Stochastic processes
dc.title (題名) Determining the optimal warranty price based on the producer`s and customers` risk preferences
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1016/0377-2217(93)E0163-Ren_US
dc.doi.uri (DOI) http://dx.doi.org/10.1016/0377-2217(93)E0163-R en_US