Warranty analysis of a two-component system with type I stochastic dependence

Nan Zhang, Mitra Fouladirad and Anne Barros

Journal of Risk and Reliability, 2018, vol. 232, issue 3, 274-283

Abstract: This article develops the warranty cost analysis of a two-component in-series system with stochastic dependence. From the perspectives of both the manufacturer and the consumer, the short-run total profits and costs under the non-renewing free replacement (non-renewing free replacement warranty) policy and the renewing free replacement warranty policy are derived, respectively. Numerical examples are given showing the impact of the failure dependence to both the consumer and the manufacturer.

Keywords: Two-component systems; stochastic dependence; free replacement; the finite time horizon (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:risrel:v:232:y:2018:i:3:p:274-283

DOI: 10.1177/1748006X17742775

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