Conjoint optimization: An exact branch-and-bound algorithm for the share-of-choice problem

• 成果类型: Article
• 署名作者: Camm, JD; Cochran, JJ; Curry, DJ; Kaman, S
• 署名单位: University System of Ohio; University of Cincinnati; University of Louisiana System; Louisiana Technical University; University System of Ohio; University of Cincinnati
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.1050.0461
• 发表日期: 2006
• 页码: 435-447
• 关键词: integer programming; Combinatorial Optimization; product design; Marketing; CONJOINT ANALYSIS; optimization

摘要

Conjoint analysis is a statistical technique used to elicit partworth utilities for product attributes from consumers to aid in the evaluation of market potential for new products. The objective of the share-of-choice problem (a common approach to new product design) is to find the design that maximizes the number of respondents for whom the new product's utility exceeds a specific hurdle (reservation utility). We present an exact branch-and-bound algorithm to solve the share-of-choice problem. Our empirical results, based on several large commercial data sets and simulated data from a controlled experiment, suggest that the approach is useful for finding provably optimal solutions to realistically sized problems, including cases where partworths contain estimation error.