The Price of a Warranty: The Case for Refrigerators
作者:
W. KEITH BRYANT,
JENNIFER L. GERNER,
期刊:
Journal of Consumer Affairs
(WILEY Available online 1978)
卷期:
Volume 12,
issue 1
页码: 30-47
ISSN:0022-0078
年代: 1978
DOI:10.1111/j.1745-6606.1978.tb00631.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
Hedonic price analysis was used to estimate the implicit market prices of the physical attributes and warranty provisions of refrigerators. Estimates were made of the implicit market prices of 2 warranty provisions, 6 physical characteristics and 13 brands using 1975 data on 156 models. The estimates were made of the implicit market prices of an additional 4 years and 9 years warranty coverage beyond the typical 1 year coverage. The results suggest that the implicit price of such additional warranty coverage exceeds (a) the cost of a service contract for a similar period, and (b) estimates of the present value of the expected cost of repairs.
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