An important problem in the product design and development process is to use the part-worths preferences of potential customers to design a new product such that market share is maximized. The authors present a new optimization framework for this problem, the nested partitions (NP) method. This...

Simulation Optimization (SO) is a class of mathematical optimization techniques in which the objective function can only be numerically evaluated through simulation. In this paper, a new SO approach called Golden Region (GR) search is developed for continuous problems. GR divides the feasible...

The combination of demand uncertainty and a lead time for adding capacity creates the risk of capacity shortage during the lead time. We formulate a model of capacity expansion for uncertain exponential demand growth and deterministic expansion lead times when there is an obligation to provide a...