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Optimisation of Extended Warranty Price with Usage Rate Being Considered

Xie, Jinhao, Wu, Shaomin (2019) Optimisation of Extended Warranty Price with Usage Rate Being Considered. In: the 11th International Conference on Mathematical Methods in Reliability (MMR2019), 3 - 7 June, 2019, Hong Kong. (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:73996)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (Contact us about this Publication)

Abstract

Optimisation of extended warranty has attracted considerable attention in the literature. Its focuses are on optimisation of the length and/or the price of the ex-tended warranty. Such research is done by good mathematicians with some unrealistic assumptions. For example, in the real world, the length of extended warranty is usually a positive integer, which may be 6 months, 12 months, etc, but it is seldom 3.5623 months. In this paper, we take into consideration of this fact and assume that the buyers may decide to purchase a different number of the base periods of extended warranty. We then propose a novel method of optimising the price of extended warranty.

Item Type: Conference or workshop item (Paper)
Subjects: H Social Sciences > HA Statistics > HA33 Management Science
Divisions: Divisions > Kent Business School - Division > Kent Business School (do not use)
Depositing User: Shaomin Wu
Date Deposited: 20 May 2019 21:41 UTC
Last Modified: 20 Mar 2021 11:32 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/73996 (The current URI for this page, for reference purposes)
Wu, Shaomin: https://orcid.org/0000-0001-9786-3213
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