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Multi-Objective Searches in Conjoint Analysis: An Intuitive Explanation (2018)

In conjoint/choice analysis, we often build choice simulators to investigate product or product line solutions that maximize some criterion such as share, revenue, or profit.  However, solutions that maximize relative share often yield low profit.  Conversely, profit-maximizing solutions can give up a great deal in terms of relative share.  Multi-objective searches find solutions that optimize the trade-off among multiple objectives like share and profit, allowing organizations to focus on solutions that can satisfy multiple goals.  As an example, solutions can be identified that nearly optimize profit while also nearly optimizing relative share of preference.

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