Assessment of Risk of Misinforming: Dynamic Measures

Abstract

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 the misinforming warranty coverage over learning time.