Design and pricing of extended warranty menus based on the multinomial logit choice model
European Journal of Operational Research(2020)
摘要
•Design and price an extended warranty menu with differentiated options.•Describe customer choice behaviors via the multinomial logit model.•Optimal pricing policy is a cost-plus-margin policy with a uniform profit margin.•Only offer options with the highest valuation margins if the menu size is limited.•Profit margins become non-uniform if the customer population is heterogeneous.
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关键词
Pricing,Extended warranty,Warranty menu,Multinomial logit model
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