Optimal product design using conjoint analysis: Computational complexity and algorithms (Q1115344)
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scientific article; zbMATH DE number 4085409
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| English | Optimal product design using conjoint analysis: Computational complexity and algorithms |
scientific article; zbMATH DE number 4085409 |
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Optimal product design using conjoint analysis: Computational complexity and algorithms (English)
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1989
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The problem of maximizing the share of a new product introduced in a competitive market is shown to be NP-hard. A directed graph representation of the problem is used to construct shortest path and dynamic programming heuristics. Both heuristics are shown to have arbitrarily bad worst-case bounds. Computational experience with real- sized problems is reported. Both heuristics identify near-optimal solutions for the simulated problems, the dynamic programming heuristic performing better than the shortest path heuristic.
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optimal product design
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marketing
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conjoint analysis
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NP-hard
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dynamic programming heuristics
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worst-case
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shortest path heuristic
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0.8160068392753601
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0.8048537373542786
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0.7844860553741455
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0.7671465277671814
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