Type 2 diabetes mellitus is among the most powerful independent risk factors of the cardiovascular disease presence and is associated with a 3 to 5× higher cardiovascular event risk. This has long been recognized by the National Cholesterol Education Program report in the United States and European guidelines, both labeling type 2 diabetes mellitus a coronary artery disease (CAD) equivalent. Al...

This paper addresses the impact of warranty of malfunctioning and warranty of misinforming on making informed purchase decisions over the adoption period. We propose mathematical models for quantification of the risk of misinforming by exploring customers’ learning evolution. These measures, dynamic in their nature, allow evaluation of customer’s satisfaction or dissatisfaction as a function of...

This paper addresses the problem of durable goods manufacturers in an oligopoly seeking optimal values for three decision variables: product warranty, reliability and price. Each ®rm seeks a warranty-reliability-price combination that maximizes expected pro®t subject to quite general constraints on the ®rm's decision variables. Warranty serves as a signal of product reliability, which is not ob...

A product warranty is an agreement offered by a producer to a consumer to replace or repair a faulty item, or to partially or fully reimburse the consumer in the event of a failure. Warranties are very widespread and serve many purposes, including protection for producer, seller, and consumer. They are used as signals of quality and as elements of marketing strategies. In this study we review t...