Many products carry a warranty that offers protection for the consumer against low quality. These warranties are often two dimensional, such as an automobile warranty that guarantees repair up to a certain time and mileage after sale. This paper considers the problem of assessing the size of a reserve needed by the manufacturer to meet future claims for such a two dimensional warranty. To do this, a class of failure models that describe failure by two scales - time and mileage, for example - must be developed. The first half of the paper is devoted to this development. Then the warranty reserve problem is considered in more detail. The problem is described and a decision-theoretic solution, making use of the newly developed reliability model, is proposed.
Calculating the reserve for a time and usage indexed warranty
Optimale Strategien für die Garantiepolitik. Die zeit- und kilometerleistungsgebundene Garantie bei Kraftwagen
Management Science ; 43 , 7 ; 966-975
1997
10 Seiten, 4 Bilder, 1 Tabelle, 27 Quellen
Aufsatz (Zeitschrift)
Englisch
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