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Optimal Control Theory with Applications in Economics - MIT Press Scholarship Online
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Optimal Control Theory with Applications in Economics

Thomas A. Weber


This book bridges optimal control theory and economics, discussing ordinary differential equations (ODEs), optimal control, game theory, and mechanism design in one volume. Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. The theory of ordinary differential equations is the backbone of the theory developed in the book, and Chapter 2 offers a detailed review of basic concepts in the theory of ODEs, including the solution of systems of linear ODEs, state-space analysis, potent ... More

Keywords: optimal control theory, ordinary differential equations, game theory, mechanism design, continuous-time systems, stability analysis, optimality conditions, differential games, economic mechanisms, economic growth

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780262015738
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262015738.001.0001


Affiliations are at time of print publication.

Thomas A. Weber, author