Conjoint Analysis: A Comparative Analysis of Specification Tests for the Utility Function
Article Abstract:
The focus of this paper is on determining appropriate combination rules for idiosyncratic ordinal utility functions in conjoint measurement. An axiomatic diagnosis is used which is based on explanatory criteria rather than goodness-of-fit or predictive criteria. A number of conflicting diagnoses results from the simultaneous applications of axiomatic tests and goodness-of-fit criteria. It is important to test certain necessary conditions for simple polynomial combination rules, such as additive and distributive rules. The axiomatic approach should complement not replace emphirical fitting diagnostic approaches. A chart shows the diagnostic framework of polynomial conjoint measurement. Tables show results for subjects satisfying axiomatic conditions. Diagnosis of combinations rules tables are also available.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1983
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Managing experimentation in the design of new products
Article Abstract:
The use of experimentation in combination with improved versions of methods such as mass screening, rapid prototyping and computer simulation to reduce total cost and time involved in product development was examined. An empirical study of experimentation in the design of integrated circuits that contain either application-specific integrated circuits (ASICs) or electrically programmable logic devices (EPLDs) showed that the economics of experimentation is significantly affected by the use of such improved product design techniques. Specifically, optimizing the switching between these techniques is economical since it lowers product development cost and time. Furthermore, the difference in performance between EPLDs and ASICs is attributed to differences in experimentation strategies.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1998
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