Dahan, Ely; Mendelson, Haim - In: Management Science 47 (2001) 1, pp. 102-116
We model concept testing in new product development as a search for the most profitable solution to a design problem … may result. We propose extreme-value theory as a mathematical abstraction of the concept-testing process. We investigate … the trade-off between the benefits and costs of parallel concept testing and derive closed-form solutions for the case of …