When determining a new variable to enter the basis by the simplex method, it is somewhat computation-ally inefficient to price out all nonbasic columns, as is the way of the standard simplex algorithm or its multiple pricing refinement. The scheme of partial pricing starts by searching the nonbasic variables in index order until a set, say 5, candidate vectors has been found. These vectors are then used as possible vectors to enter the basis, as is done in multiple pricing. After the candidate set is depleted, another set is found by searching the nonbasic vectors from the point where the first set stopped its search. The process continues in this manner by searching and selecting candidate sets until the optimal solution is found. Although the total number of iterations to solve a problem usually increases, computational time is saved by this type of pricing strategy. Simplex method.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2001 Kluwer Academic Publishers
About this entry
Cite this entry
Gass, S.I., Harris, C.M. (2001). Partial pricing . In: Gass, S.I., Harris, C.M. (eds) Encyclopedia of Operations Research and Management Science. Springer, New York, NY. https://doi.org/10.1007/1-4020-0611-X_737
Download citation
DOI: https://doi.org/10.1007/1-4020-0611-X_737
Published:
Publisher Name: Springer, New York, NY
Print ISBN: 978-0-7923-7827-3
Online ISBN: 978-1-4020-0611-1
eBook Packages: Springer Book Archive