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Optimisation of warranty reserve policies

Gurgur, Cigdem Z. - In: International Journal of Applied Management Science 3 (2011) 3, pp. 241-258

Companies typically plan for warranty costs through creation of a reserve fund. Most researchers assume that the warranty reserve is set based on the expected total warranty costs. However, companies rarely keep reserves to cover their liabilities for the whole life of their products, since...

Persistent link: https://www.econbiz.de/10009352549

State of the Art---Utility Assessment Methods

Farquhar, Peter H. - In: Management Science 30 (1984) 11, pp. 1283-1300

This paper is a comprehensive study of methods for assessing unidimensional expected utility functions. The paper … describes the utility assessment process in decision analysis and then reviews problem formulation, sources of bias in … preference judgments, and the analysis of risk attitudes. Two dozen utility assessment methods of which half appear for the first …

Persistent link: https://www.econbiz.de/10009204102

The Human version of Moore-Shannon's Theorem: The Design of Reliable Economic Systems

Kristensen, Michael; Knudsen, Thorbjørn - DRUID, Copenhagen Business School, Department of … - 2007

Moore & Shannon's theorem is the cornerstone in reliability theory, but cannot be applied to human systems in its original form. A generalization to human systems would therefore be of considerable interest because the choice of organization structure can remedy reliability problems that...

Persistent link: https://www.econbiz.de/10005839208

Parametric stochastic convexity and concavity of stochastic processes

Shaked, Moshe; Shanthikumar, J. - In: Annals of the Institute of Statistical Mathematics 42 (1990) 3, pp. 509-531

Persistent link: https://www.econbiz.de/10005169209

Strategic Defense and Attack for Series and Parallel Reliability Systems: Comment

Kovenock, Dan; Roberson, Brian - Krannert School of Management, Purdue University - 2010

Hausken (2008a) formulates a contest-theoretic model of the attack and defense of a network of targets. This note identies a technical error that invalidates Hausken's characterization of Nash equilibrium for a substantial portion of the parameter space that he examines and provides necessary...

Persistent link: https://www.econbiz.de/10008646757

Strategic Defense and Attack for Series and Parallel Reliability Systems: Reply on Comment

Hausken, Kjell - Volkswirtschaftliche Fakultät, … - 2010

Kovenock and Roberson’s (2010) paper has the potential to advance the research frontier, but has deficiencies. This paper suggests how Kovenock and Roberson’s (2010) paper can be developed into a more substantial paper. Kovenock and Roberson’s (2010) paper consists of three sections. The...

Persistent link: https://www.econbiz.de/10008674264

The decreasing percentile residual life aging notion

Franco-Pereira, Alba M.; Lillo, Rosa E.; Shaked, Moshe - Departamento de Estadistica, Universidad Carlos III de … - 2010

Earlier researchers have studied some aspects of the classes of distribution functions with decreasing ?-percentile residual life (DPRL(?)), 0 ? 1. The purpose of this paper is to note some further properties of these classes, and to initiate a theory of nonparametric statistical estimation of...

Persistent link: https://www.econbiz.de/10008509906

Percentile residual life orders

Franco-Pereira, Alba M.; Lillo, Rosa E.; Romo, Juan; … - Departamento de Estadistica, Universidad Carlos III de … - 2008

In this paper we study a family of stochastic orders of random variables defined via the comparison of their percentile residual life functions. Some interpretations of these stochastic orders are given, and various properties of them are derived. The relationships to other stochastic orders are...

Persistent link: https://www.econbiz.de/10008513118

Organizational Design and Resource Evaluation

Christensen, Michael; Knudsen, Thorbjørn - DRUID, Copenhagen Business School, Department of … - 2006

A crucial problem of evaluating, discovering, and creating the value of resources remains at the center of the subject of business strategy. The present article draws on reliability theory to advance an analytical platform that can address part of this problem, the evaluation of resource value....

Persistent link: https://www.econbiz.de/10005627303

Log-concavity of a mixture of beta distributions

Mu, Xiaosheng - In: Statistics & Probability Letters 99 (2015) C, pp. 125-130

We provide a sufficient condition for a mixture of Beta distributions to have log-concave density. This is true whenever the Beta distributions to be mixed together have constant parameter sum and the mixing weights are themselves log-concave. The result has applications in economics and...

Persistent link: https://www.econbiz.de/10011208319