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What is Lagrange Multiplier

Chapter 47
Encyclopedia of Business Analytics and Optimization
The Lagrange multiplier, ?, is used in sensitivity analysis in Optimization problems. In general the objective function changes by the value of ? for each unit change in the resource.
Published in Chapter:
Constrained Nonlinear Optimization in Business
William P. Fox (Naval Postgraduate School, USA)
Copyright: © 2014 |Pages: 13
DOI: 10.4018/978-1-4666-5202-6.ch047
Abstract
We present both classical analytical, numerical, and heuristic techniques to solve constrained optimization problems relating to business, industry, and government. We briefly discuss other methods such as genetic algorithm. Today's business environment has many resource challenges to their attempts to maximize profits or minimize costs for which constrained optimization might be used. Facility location and transportation networks techniques are often used as well as the traveling salesman problem.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 399
Constrained Nonlinear Optimization in Information Science
The Lagrange multiplier, ?, is used in sensitivity analysis in optimization problems. In general the objective function changes by the value of ? for each unit change in the resource.
Published in Chapter: Constrained Nonlinear Optimization in Information Science; From: Encyclopedia of Information Science and Technology, Fourth Edition
Full Text Chapter Download: US $37.50 Add to Cart
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