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A warranty is a service contract between a manufacturer and a customer which plays a vital role in many businesses and legal transactions. This paper focuses on the research on optimizing the cost in a service contract among one manufacturer and one agent with asymmetric actions. In order to obtain an optimal cost, we use the method of game theory to simulate the interaction among participants. Through setting the manufacturer's optimal sale price, warranty period and warranty price, and the agent's optimal maintenance price or repair price, we minimize the cost and maximize the profit. Finally, the paper presents several numerical examples and numerical analysis to illustrate the models, and put forward some interesting managerial insights.

Cost optimization in a warranty service contract with asymmetric actions