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dc.contributor.authorRahman, A
dc.contributor.authorChattopadhyay, G
dc.contributor.editorProf. Dr. Dr. Jiuping Xu
dc.date.accessioned2017-05-03T15:25:35Z
dc.date.available2017-05-03T15:25:35Z
dc.date.issued2010
dc.date.modified2010-09-07T07:09:59Z
dc.identifier.issn1750-9653
dc.identifier.urihttp://hdl.handle.net/10072/33243
dc.description.abstractCurrently, manufacturers/dealers have started selling products with lifetime warranty policies. In this paper, risk attitudes of both buyers and manufacturer/dealers to lifetime warranty policies are discussed. In line with Chun and Tang (1995) [2], Risk models are developed for products with time dependent failure intensity (rate). These models have been proposed with Non homogeneous Poisson's process for failure intensity function, a constant repair cost, and concave utility function. Using the exponential utility function, the decision models are developed to maximise the manufacturer/dealer's certainty profit equivalent. Risk preference models are developed to find the optimal warranty price through the use of the manufacturer's utility function for profit and the buyer's utility function for repair costs. Finally, the sensitivity of the warranty price models is analysed using numerical examples.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoeng
dc.publisherWorld Academic Union
dc.publisher.placeUnited Kingdom
dc.publisher.urihttp://www.ijmsem.org/OnlineJournal.do/?134.html
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom203
dc.relation.ispartofpageto209
dc.relation.ispartofissue3
dc.relation.ispartofjournalInternational Journal of Management Science and Engineering Management
dc.relation.ispartofvolume5
dc.rights.retentionY
dc.subject.fieldofresearchMathematical sciences
dc.subject.fieldofresearchEngineering
dc.subject.fieldofresearchManufacturing management
dc.subject.fieldofresearchCommerce, management, tourism and services
dc.subject.fieldofresearchcode49
dc.subject.fieldofresearchcode40
dc.subject.fieldofresearchcode401407
dc.subject.fieldofresearchcode35
dc.titleModelling risks to manufacturer and buyer for lifetime warranty policies
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Sciences, Griffith School of Engineering
gro.rights.copyright© 2010 IJMSEM. Self-archiving of the author-manuscript version is not yet supported by this publisher. Please refer to the journal link for access to the definitive, published version or contact the authors for more information.
gro.date.issued2010
gro.hasfulltextNo Full Text
gro.griffith.authorRahman, Anisur


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