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政大典藏 > College of Commerce > Department of Business Administation > Periodical Articles > Item 140.119/70628

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/70628

Title:	Dynamic Pricing and Warranty Policies for Products with Fixed lifetime
Authors:	唐揆 Tang, Kwei
Contributors:	企管系
Keywords:	Dynamic pricing;Dynamic warranty;Risk aversion
Date:	2009.08
Issue Date:	2014-10-16 17:52:29 (UTC+8)
Abstract:	We consider a repairable product with known market entry and departure times. A warranty policy is offered with product purchase, under which a customer can have a failed item repaired free of charge in the warranty period. It is assumed that customers are heterogeneous in their risk attitudes toward uncertain repair costs incurred after the warranty expires. The objective is to determine a joint dynamic pricing and warranty policy for the lifetime of the product, which maximizes the manufacturer’s expected profit. In the first part of the analysis, we consider a linearly decreasing price function and a constant warranty length. We first study customers’ purchase patterns under several different pricing strategies by the manufacturer and then discuss the optimal pricing and warranty strategy. In the second part, we assume that the warranty length can be altered once during the product lifetime in developing a joint pricing and warranty policy. Numerical studies show that a dynamic warranty policy can significantly outperform a fixed-length warranty policy.
Relation:	European Journal of Operational Research, 196(3), 940-948
Data Type:	article
DOI link:	http://dx.doi.org/10.1016/j.ejor.2008.04.014
DOI:	10.1016/j.ejor.2008.04.014
Appears in Collections:	[Department of Business Administation] Periodical Articles

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