Mathematical Optimization and Economic Theory (Classics in Applied Mathematics, 39)

Rating:
Summary: Difficult but very good
Review: This book covers static and dynamic optimization theory. The text is presented in matrix notation, which makes it difficult for those not acquainted with.

The main topic on static optimization is nonlinear programming, wonderfully written. Together with calculus of variations, Bellman equation is also covered in dynamic programming.

The author presents several applications. The main are about static comparative, general equilibrium, welfare economics (all concerning static optimization) and optimal economic growth.

One chapter is devoted to Game Theory, but I think there are better books on that.

The exercises are extremelly difficult, although very interesting.

Today, there are several books on Mathematical Economics, maybe better than this, therefore someone thinking about adopting it should be careful.