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Foundations of Dynamic Economic Analysis: Optimal Control Theory and Applications
Product Review "Michael Caputo's Foundations of Dynamic Economic Analysis presents a well-written, complete, up to date exposition of the theory and techniques of dynamic optimization applied to a variety of economics problems. Of special interest is the presentation of Caputo's generalization of Silberberg's primal-dual approach to comparative statics and comparative dynamics." -Morton Kamien, Northwestern University Product Description Presenting a thorough introductory exposition of optimal control theory, this work differs from the existing textbooks on the subject due to its emphasis on the economic interpretation of the mathematics and the qualitative properties of the solutions. Moreover, it is a modern exposition of optimal control theory in that it presents numerous complementary methods. It is aimed at first-year and second-year PhD students in economics, agricultural and resource economics, operations research, management science, and applied mathematics.
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