title: Optimal pricing structure in a maintenance contract: a game theory approach
metadata.name: dc.contributor.author
metadata.value: Santos, Henrique P. Z.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Guedes, Bruno N.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Cristino, Claudio T.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2020-11-19T09:56:54Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2020-11-19T09:56:54Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2020-09-01
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/20708
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This essay presents a novel look at Murthy and Asgharizadeh's study (Murthy & Asgharizadeh, 1998). The authors developed a decision problem applied to maintenance outsourcing involving two decision-makers (players). If a consumer buys a product, then outsources the maintenance actions to a maintenance agent (agent) who offers two maintenance options; a maintenance contract that holds a penalty clause which is activated if the agent's time to repair is higher than a specified time, and services on-demand. The model yields equilibrium strategies based on the subgame-perfect Nash equilibrium. The agent defines the optimal pricing structure for the maintenance options considering the equipment's useful life while the consumer maximizes their expected payoff by choosing one maintenance option. Our contribution to this research branches in three ways. First, once the model deals with random variables, it represents a stochastic optimization problem. We propose a different approach to estimate this penalty time by using the Monte Carlo method. The second contribution is to present a formal definition of this decision problem as a game, emphasizing the game theory's components. Finally, we reinterpret the players' equilibrium strategies.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St. Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Contributions to Game Theory and Management, vol. XIII, 388–401;
metadata.lang: -
metadata.name: dc.title
metadata.value: Optimal pricing structure in a maintenance contract: a game theory approach
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: Santos_Guedes_Cristino(388-401).pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/20708/1/Santos_Guedes_Cristino%28388-401%29.pdf
resources.format: Adobe PDF
resources.size: 458,17 kB