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.


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    Title :

    Calculating the reserve for a time and usage indexed warranty


    Additional title:

    Optimale Strategien für die Garantiepolitik. Die zeit- und kilometerleistungsgebundene Garantie bei Kraftwagen


    Contributors:

    Published in:

    Management Science ; 43 , 7 ; 966-975


    Publication date :

    1997


    Size :

    10 Seiten, 4 Bilder, 1 Tabelle, 27 Quellen




    Type of media :

    Article (Journal)


    Type of material :

    Print


    Language :

    English




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