by Atle Seierstad and Knut Sydsæter (1987)
This book serves not only as an introduction, but also as an advanced text and reference source in the field of deterministic optimal control systems governed by ordinary differential equations. It also includes an introduction to the classical calculus of variations. An important feature of the book is the inclusion of a large number of examples, in which the theory is applied to a wide variety of economics problems. The presentation of simple models helps illuminate pertinent qualitative and analytic points, useful when confronted with a more complex reality. These models cover: economic growth in both open and closed economies, exploitation of (non- ) renewable resources, pollution control, behaviour of firms, and differential games. A great emphasis on precision pervades the book, setting it apart from the bulk of literature in this area. The rigorous techniques presented should help the reader avoid errors which often recur in the application of control theory within economics.
Alexey Voinov
Modeling is a key component to sciences from mathematics to life science, including environmental and ecological studies. This book shows how models can be analyzed using simple math and software to generate meaningful qualitative descriptions of system dynamics.
Itzhak Gilboa and David Schmeidler
"Gilboa and Schmeidler provide a new paradigm for modeling decision making under uncertainty. Case-based decision theory does not assume that decision makers know the possible 'states of the world' or the outcomes, let alone the decision matrix attaching outcomes to act-state pairs. Case-based decision theory suggests that people make decisions by analogies to past cases: they tend to choose acts that performed well in the past in similar situations, and to avoid acts that performed poorly. It is an alternative to expected utility theory when both states of the world and probabilities are neither given in the problem nor can be easily constructed. The authors describe the general theory and its relationship to planning, repeated choice problems, inductive inference, and learning; they highlight its mathematical and philosophical foundations and compare it to expected utility theory as well as to rule-based systems."--BOOK JACKET.
Patrick L. Anderson
"Business Economics and Finance: Using MATLAB, GIS, and Simulation Models takes recent theoretical advances in Finance and Economics and shows how they can be implemented in the real world. It presents tactics for using mathematical and simulation models to solve complex tasks of forecasting income, valuing businesses, predicting retail sales, evaluating markets, and solving tax and regulatory problems." "This is the first book to fully explore the capabilities of MATLAB in the field of business economics. Some techniques, such as fuzzy logic, retail sales, economic and fiscal impact models, and other MATLAB and Simulink models are described here for the first time in print. The sections on business income and value break new ground by directly incorporating uncertainty, "real option" value, and prediction of variables using Ito and "jump" processes."--BOOK JACKET.
Joseph A. Herriges and Catherine L. Kling
"This volume analyzes revealed preference approaches to modeling the demand for recreational resources. It presents one of the most thorough treatments of methods that rely on observed behavior to estimate the value of environmental amenities." "This volume will be essential reading for those interested in 'tooling up' on revealed preference approaches. For long-term practitioners, the papers provide an invaluable reference on recent developments in their field."--BOOK JACKET.