Optimal Control Theory - Applications to Management Science and Economics (Second Edition)

Rating:
Summary: Technical Paper Rollup
Review: Book is essentially a compendium of technical papers on specific economics topics subject to the application of Control Theory. The book includes a robust set of useful state equations and associated optimality problem statements, but I would have appreciated a more general discussion of the application of control theory to management science that ties all of the book's subjects together into a single, cohesive framework. The book focuses almost exclusively on the trees rather than the forest. As such, it is best suited as a supplement for graduate-level studies.

Rating:
Summary: An extremely good textbook
Review: This is a very good textbook for subjects on optimal controls with management science applications. I have adopted this as a textbook and students love it. Illustrative figures and diagrams are sufficiently provided, and materials are carefully explained.
The use of the commonly available Excel program to solve TPBVPs at the end of Chapter 2 is suitable for the ever increasing demand of "multimedia teaching". I have not seen any other optimal control textbook include such a set of Excel instructions in such a simple and elegant way.
Moreover, the authors made a set of chapter-by-chapter power point files available on the web to supplement the text book for classroom teaching.
I am giving 5 stars to this book anytime.