An Economic Interpretation of Linear Programming
An Economic Interpretation of Linear Programming by Quirino Paris, published by Palgrave Macmillan US on December 15, 2015, is a comprehensive text that spans 454 pages. This book covers the fundamental theory and computation involved in mathematical modeling within linear programming, providing readers with a solid foundation for setting up mathematical proofs and high-level computation methods.
Readers will find an intuitive discussion of solving systems of equations, which is essential for tackling linear programs. The text delves into the simplex method, offering an economic interpretation of each step in the algorithm. By uniquely combining microeconomics of production with linear programming structures, this edition aims to clarify the formulation of economic equilibrium models and the computation of opportunity costs in complex scenarios involving multiple outputs and inputs.
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This text covers the basic theory and computation for mathematical modeling in linear programming. It provides a strong background on how to set up mathematical proofs and high-level computation methods, and includes substantial background material and direction. Paris presents an intuitive and novel discussion of what it means to solve a system of equations that is a crucial stepping stone for solving any linear program. The discussion of the simplex method for solving linear programs gives an economic interpretation to every step of the simplex algorithm. The text combines in a unique and novel way the microeconomics of production with the structure of linear programming to give students and scholars of economics a clear notion of what it means, formulating a model of economic equilibrium and the computation of opportunity cost in the presence of many outputs and inputs.
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