Differential Games in Economics and Management Science
Title | Differential Games in Economics and Management Science PDF eBook |
Author | Engelbert Dockner |
Publisher | Cambridge University Press |
Pages | 398 |
Release | 2000-11-16 |
Genre | Business & Economics |
ISBN | 9780521637329 |
A comprehensive, self-contained survey of the theory and applications of differential games, one of the most commonly used tools for modelling and analysing economics and management problems which are characterised by both multiperiod and strategic decision making. Although no prior knowledge of game theory is required, a basic knowledge of linear algebra, ordinary differential equations, mathematical programming and probability theory is necessary. Part One presents the theory of differential games, starting with the basic concepts of game theory and going on to cover control theoretic models, Markovian equilibria with simultaneous play, differential games with hierarchical play, trigger strategy equilibria, differential games with special structures, and stochastic differential games. Part Two offers applications to capital accumulation games, industrial organization and oligopoly games, marketing, resources and environmental economics.
Differential Games in Industrial Economics
Title | Differential Games in Industrial Economics PDF eBook |
Author | Luca Lambertini |
Publisher | Cambridge University Press |
Pages | 275 |
Release | 2018-04-26 |
Genre | Business & Economics |
ISBN | 1316732630 |
Game theory has revolutionised our understanding of industrial organisation and the traditional theory of the firm. Despite these advances, industrial economists have tended to rely on a restricted set of tools from game theory, focusing on static and repeated games to analyse firm structure and behaviour. Luca Lambertini, a leading expert on the application of differential game theory to economics, argues that many dynamic phenomena in industrial organisation (such as monopoly, oligopoly, advertising, R&D races) can be better understood and analysed through the use of differential games. After illustrating the basic elements of the theory, Lambertini guides the reader through the main models, spanning from optimal control problems describing the behaviour of a monopolist through to oligopoly games in which firms' strategies include prices, quantities and investments. This approach will be of great value to students and researchers in economics and those interested in advanced applications of game theory.
Advances in Dynamic Games
Title | Advances in Dynamic Games PDF eBook |
Author | Alain Haurie |
Publisher | Springer Science & Business Media |
Pages | 421 |
Release | 2007-04-03 |
Genre | Mathematics |
ISBN | 0817645012 |
This book, an outgrowth of the 10th International Symposium on Dynamic Games, presents current developments of the theory of dynamic games and its applications. The text uses dynamic game models to approach and solve problems pertaining to pursuit-evasion, marketing, finance, climate and environmental economics, resource exploitation, as well as auditing and tax evasions. It includes chapters on cooperative games, which are increasingly drawing dynamic approaches to their classical solutions.
Optimal Control and Differential Games
Title | Optimal Control and Differential Games PDF eBook |
Author | Georges Zaccour |
Publisher | Springer Science & Business Media |
Pages | 242 |
Release | 2012-12-06 |
Genre | Business & Economics |
ISBN | 1461510473 |
Optimal control and differential games continue to attract strong interest from researchers interested in dynamical problems and models in management science. This volume explores the application of these methodologies to new as well as to classical decision problems in management sciences and economics. In Part I, optimal control and dynamical systems approaches are used to analyze problems in areas such as monetary policy, pollution control, relationship marketing, drug control, debt financing, and ethical behavior. In Part II differential games are applied to problems such as oligopolistic competition, common resource management, spillovers in foreign direct investments, marketing channels, incentive strategies, and the computation of Markov perfect Nash equilibria. Optimal Control and Differential Games is an excellent reference for researchers and graduate students covering a wide range of emerging and revisited problems in management science.
Dynamic Optimization, Second Edition
Title | Dynamic Optimization, Second Edition PDF eBook |
Author | Morton I. Kamien |
Publisher | Courier Corporation |
Pages | 402 |
Release | 2013-04-17 |
Genre | Mathematics |
ISBN | 0486310280 |
Since its initial publication, this text has defined courses in dynamic optimization taught to economics and management science students. The two-part treatment covers the calculus of variations and optimal control. 1998 edition.
Optimal Control Theory
Title | Optimal Control Theory PDF eBook |
Author | Suresh P. Sethi |
Publisher | Taylor & Francis US |
Pages | 536 |
Release | 2006 |
Genre | Business & Economics |
ISBN | 9780387280929 |
Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the authors have applied to business management problems developed from their research and classroom instruction. Sethi and Thompson have provided management science and economics communities with a thoroughly revised edition of their classic text on Optimal Control Theory. The new edition has been completely refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement, problems of optimal consumption of natural resources, and applications of control theory to economics. The book contains new results that were not available when the first edition was published, as well as an expansion of the material on stochastic optimal control theory.
LQ Dynamic Optimization and Differential Games
Title | LQ Dynamic Optimization and Differential Games PDF eBook |
Author | Jacob Engwerda |
Publisher | John Wiley & Sons |
Pages | 514 |
Release | 2005-06-17 |
Genre | Business & Economics |
ISBN | 9780470015247 |
Game theory is the theory of social situations, and the majority of research into the topic focuses on how groups of people interact by developing formulas and algorithms to identify optimal strategies and to predict the outcome of interactions. Only fifty years old, it has already revolutionized economics and finance, and is spreading rapidly to a wide variety of fields. LQ Dynamic Optimization and Differential Games is an assessment of the state of the art in its field and the first modern book on linear-quadratic game theory, one of the most commonly used tools for modelling and analysing strategic decision making problems in economics and management. Linear quadratic dynamic models have a long tradition in economics, operations research and control engineering; and the author begins by describing the one-decision maker LQ dynamic optimization problem before introducing LQ differential games. Covers cooperative and non-cooperative scenarios, and treats the standard information structures (open-loop and feedback). Includes real-life economic examples to illustrate theoretical concepts and results. Presents problem formulations and sound mathematical problem analysis. Includes exercises and solutions, enabling use for self-study or as a course text. Supported by a website featuring solutions to exercises, further examples and computer code for numerical examples. LQ Dynamic Optimization and Differential Games offers a comprehensive introduction to the theory and practice of this extensively used class of economic models, and will appeal to applied mathematicians and econometricians as well as researchers and senior undergraduate/graduate students in economics, mathematics, engineering and management science.