Shadow price and its application in resource allocation

Shadow price and its application in resource allocation

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Article ID: iaor20021423
Country: China
Volume: 29
Issue: 5
Start Page Number: 540
End Page Number: 544
Publication Date: Oct 2000
Journal: Journal of University of Electronic Science and Technology of China
Authors: ,
Keywords: allocation: resources
Abstract:

Based on the dual principle of linear programming, this paper discusses the economic significance of shadow price, corrects the error that interprets the dual variables as shadow profit, and analyses the factors that influence shadow price. The function of shadow price in resource allocation is also proposed.

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