2013•Studies in College MathematicsRequires access

Definition and Calculation of Shadow Prices in Linear Programming

Fei Wei

Abstract

The definition and the calculation of shadow prices are confused easily when the optimal solution of the dual problem of a linear programming is not unique.Based on the exiting definition and the nature of shadow prices both at home and abroad,a new definition of shadow prices is introduced together with the calculation of it by the direct search and by the constraint dual approach.Examples are illustrated showing that our definition and algorithms are effective.

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Available abstract

Key concepts: Shadow price, Shadow (psychology), Linear programming, Dual (grammatical number), Constraint (computer-aided design), Mathematical optimization, Mathematics, Mathematical economics