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Elements of Dynamic Optimization, by Alpha C. Chiang
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This is an in-depth exploration of dynamic optimization in economics, written by the author of the best-selling "Fundamental Methods Of Mathematical Economics". It can be used in sequence with "Fundamental Methods", or independently, at the advanced undergraduate or a beginning graduate level. It is written at the same analytical level, with the same care, as the other Chiang text.
- Sales Rank: #3223472 in Books
- Brand: McGraw-Hill Higher Education
- Published on: 1992-05-01
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 13.78" h x 6.69" w x 24.41" l,
- Binding: Paperback
- 352 pages
Review
Chiang's book has filled a void in that it is the most accessible and succinct treatment of dynamic optimization in continuous time to date. --Vic Valcarcel, Texas Tech University
From the Back Cover
"This book is immensely valuable, especially for students coming to this material for the first time. Professor Chiang has a singular talent for clear exposition of complex mathematical concepts. This text is simply the best introduction to dynamic optimization I have ever seen." -- John McDermott, University of South Carolina
"Chiang has done it again." -- Henry Thompson, Auburn University
"A brilliant, highly readable book. Bringing together tractable dynamics and a rich array of applications, it covers in depth some major analytical developments in dynamic macroeconomics. Dynamic macroeconomics in the 1990s was about introducing various kinds of market imperfections and heterogeneity in the models available before. This book teaches, in a comprehensive and understandable way, how to use and formulate these models. Chiang makes it insightful and natural for the reader, using the tools he has laid out, to go on to attack substantive and original research in dynamic macroeconomics. Invaluable for teachers and students alike." -- Zuhair Al-Fakhouri, Wayne State University
"This is the most understandable text I have come across on topics of optimization. The author discusses the formal elements of problems in an informal way to facilitate an easy grasp of the crucial points. I have learned and re-learned control theory from this book better than any other text." -- Abdul Qayum, Portland State University
Most helpful customer reviews
1 of 1 people found the following review helpful.
Nice introduction
By Leo
Just as in Fundamentals, Chiang tries not to give a recipe book, but to explain the rationale underlying the method. And, just as before, he does it well. If it is your first approach to dynamic optimization in economics, it's probably the best book to start from. It covers only calculus of variations and optimal control theory though.
1 of 2 people found the following review helpful.
Very useful book!!!
By Park Kun Su
One of my professors recommend the book. I think that it is a very useful book.
So, I strongly recommend it.
0 of 1 people found the following review helpful.
The book I order is incomplete!! There are ...
By René Rosado
Excelent book
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