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Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management (Advanced Textbooks in Economics)

Dynamic Optimization: The Calculus of Variations and Optimal Control in Economics and Management (Advanced Textbooks in Economics)
By M.I. Kamien, N.L. Schwartz?

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Product Description

The long awaited second edition of Dynamic Optimization is now available. Clear exposition and numerous worked examples made the first edition the premier text on this subject. Now, the new edition is expanded and updated to include essential coverage of current developments on differential games, especially as they apply to important economic questions; new developments in comparative dynamics; and new material on optimal control with integral state equations.

The second edition of Dynamic Optimization provides expert coverage on:- methods of calculus of variations - optimal control - continuous dynamic programming - stochastic optimal control -differential games. The authors also include appendices on static optimization and on differential games.

Now in its new updated and expanded edition, Dynamic Optimization is, more than ever, the optimum choice for graduate and advanced undergraduate courses in economics, mathematical methods in economics and dynamic optimization, management science, mathematics and engineering.

New features of Dynamic Optimization will show students:advances in how to do comparative dynamics; how to optimally switch from one state equation to another during the planning period; how to take into account the history of the system governing an optimization problem through the use of an integral state equation; and how to apply differential games to problems in economics and management sciences.

Product Details

  • Amazon Sales Rank: #569131 in Books
  • Published on: 1991-10-11
  • Original language: English
  • Number of items: 1
  • Binding: Hardcover
  • 396 pages

Editorial Reviews

Review
....an excellent first introduction to the field of dynamic optimization.
Optima

Customer Reviews

this book is an old friend5
I've been using this book as a reference whenever I have questions on optimal control for over 10 years. It's still brilliant. Seldom do I encounter a problem it doesn't help me solve, especially now, in the second edition, where there is a new section on differential games! Highly recommended!