Using performance-based warranties to influence consumer purchase decisions

IF 1 4区经济学 Q4 BUSINESS

Engineering Economist Pub Date : 2020-01-02 DOI:10.1080/0013791X.2019.1642430

C. Koschnick, J. Hartman

引用次数: 4

Abstract

Abstract Traditional warranty analysis focuses on the reliability of a product and offers warranty designs that compensate a consumer if the item fails. We introduce the concept of a performance-based warranty (PBW) that guarantees that a product will operate at or above some baseline level of performance, such as a minimum energy efficiency for an appliance. We illustrate how consumer behavior can change in the presence of a PBW and define the parameters for which a manufacturer may increase revenue. Finally, we present an algorithm to solve for the optimal PBW design given a consumer’s belief about the expected performance of the product.

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使用基于性能的保证来影响消费者的购买决策

摘要传统的保修分析侧重于产品的可靠性，并提供保修设计，在产品出现故障时对消费者进行补偿。我们引入了基于性能的保修（PBW）的概念，该保修保证产品将在某个基准性能水平或以上运行，例如电器的最低能效。我们说明了在PBW存在的情况下，消费者行为如何发生变化，并定义了制造商可能增加收入的参数。最后，我们提出了一种算法来求解最优PBW设计，给出了消费者对产品预期性能的信念。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Engineering Economist ENGINEERING, INDUSTRIAL-OPERATIONS RESEARCH & MANAGEMENT SCIENCE

CiteScore

2.00

自引率

0.00%

发文量

审稿时长

>12 weeks

期刊介绍： The Engineering Economist is a refereed journal published jointly by the Engineering Economy Division of the American Society of Engineering Education (ASEE) and the Institute of Industrial and Systems Engineers (IISE). The journal publishes articles, case studies, surveys, and book and software reviews that represent original research, current practice, and teaching involving problems of capital investment. The journal seeks submissions in a number of areas, including, but not limited to: capital investment analysis, financial risk management, cost estimation and accounting, cost of capital, design economics, economic decision analysis, engineering economy education, research and development, and the analysis of public policy when it is relevant to the economic investment decisions made by engineers and technology managers.