Optimal Control Theory with Applications in Economics

""Weber's book is an important reference for anyone wishing to explore dynamic economic systems. Its early chapters present a nice overview of the field, and for researchers already familiar with control theory there are several chapters dealing with applications to game theory and mechanism design, including interesting examples that are nicely developed.""--Andrew B. Whinston, Hugh Roy Cullen Centennial Chair in Business Administration and Director of the Center for Research in Electronic Commerce, University of Texas at Austin ""This is an excellent textbook on optimal control theory and its applications to game theory and mechanism design. It will be a valuable resource for economics graduate courses on microeconomics, mathematics for economists, and game theory. Thomas Weber covers his chosen material in depth, clearly, and rigorously. He also offers a mathematical appendix, well-chosen examples, and exercises along with detailed solutions.""--Dimitrios Diamantaras, Economics Department, Temple University ""This book provides an excellent introduction to optimal control theory and its applications in economics. The exposition is concise and rigorous, with a splendid array of examples from recent research. It is both an outstanding reference on the foundations of optimal control theory and an excellent text for graduate courses dealing with dynamic economic systems.""--Paul R. Kleindorfer, Anheuser-Busch Professor of Management Science, Emeritus, The Wharton School, University of Pennsylvania, and Distinguished Research Professor, INSEAD