Testing a large variety of different product concepts is an integral part of nearly all new product development initiatives—especially in the concept selection phase, where firms seek to identify the most promising concept for further development. Test results are usually collected by agents,...

The process of allocating scarce resources to competing internal and external new product development (NPD) projects comprises two key phases: (i) the collection of relevant information about the projects under consideration and (ii) the allocation of resources to the most promising projects....