This book bridges optimal control theory and economics, discussing ordinary differential equations, 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...

Combining concrete policy-oriented modeling strategies of World War II with what was received as traditional neoclassical theory, in 1956 Robert Solow constructed a simple, clean, and smooth-functioning “design” model that served many different purposes. As a working object it enabled...