Linear Programming

Palgrave Encyclopedia of Strategic Management, Eds. Mie Augier, David J. Teece, ISBN 978-1-137-49190-9, Palgrave Macmillan UK, 2016

4 Pages Posted: 8 Jun 2017

See all articles by Rajeev R. Bhattacharya

Rajeev R. Bhattacharya

Washington Finance and Economics; Johns Hopkins University

Date Written: 2014

Abstract

An optimization problem with a linear objective function and linear constraints is called a linear programming problem. A vector satisfying the inequality and nonnegative constraints is called a feasible solution. If a linear programming problem and its dual have feasible solutions, then both have optimal solutions, and the value of the optimal solution is the same for both. If either the program or its dual does not have a feasible solution, then neither has an optimal vector. The simplex method is a simple method of solving a linear programming problem.

Keywords: Linear Programming; Objective Function, Optimality, Dual, Simplex

JEL Classification: C61

Suggested Citation

Bhattacharya, Rajeev, Linear Programming (2014). Palgrave Encyclopedia of Strategic Management, Eds. Mie Augier, David J. Teece, ISBN 978-1-137-49190-9, Palgrave Macmillan UK, 2016 . Available at SSRN: https://ssrn.com/abstract=2981081

Rajeev Bhattacharya (Contact Author)

Washington Finance and Economics ( email )

United States

HOME PAGE: http://washington-finance.com

Johns Hopkins University

1717 Massachusetts Avenue, NW
Washington, DC 20036
United States

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