Advances in Decision Sciences / 2009 / Article / Fig 3

Research Article

Warranty Optimization in a Dynamic Environment

Figure 3

In this example, the competition increases additively from 2 to 5 0 . As the competition increases, the company's share of the market decreases and so does the profit as shown in (a). (d), shows the regret in round ๐‘– as a percentage of the total profit received by โ€œopt_fixedโ€ from rounds 0 through ๐‘– . It illustrates that the theoretical results showing that the average regret tends to zero as the rounds tend to infinity translate into results showing that the percent of profit missed by ๐’œ ๐‘ and ๐’œ ๐‘“ tends to zero as the round tends to infinity.
(a) Profit functions
(b) Warranty period
(c) Profit
(d) Regret as percent

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