SURVEY OF DYNAMIC GAMES IN ECON..,A (V1)

“The ideas underlying differential game arose from Isaacs' Rand Paper P 257, in 1951, inspired by von Neumann at Rand. Subsequently, the focus turns pragmatic, and main applications come from — understandably — economics, the discipline about interactive decision-making with foresight. Befittingly, as differential game approaches its 60th anniversary, this volume appears as the best possible introduction for the interested readers. Professor Long, a top economist with wide ranging contributions, has covered the topic with clarity, eloquence, thoroughness and impeccable rigor.”

“After introducing the various equilibrium concepts and clarifying which are vulnerable to the problems of imperfection and time-inconsistency, Long masterfully surveys contributions to dynamic games (both discrete and continuous time) in six sub-fields: Environmental, Natural Resources, Trade and Development, Industrial Organization, Public Economics, and Macro. The book is ideal for a dynamics unit in a graduate field course.”

“As economists, we understand that economic decision-making takes place in a dynamic and strategic environment. This is the focus of this wonderful survey that analyzes dynamic economic trade-offs in a game-theoretic setting for a variety of real world applications. Professor Long, one of the most distinguished economists in the field of economic dynamics, presents a masterpiece that I recommend to every graduate student and researcher interested in dynamic economic trade-offs to read. You will be fascinated by the deep economic insights you are able to get in a number of areas, such as environmental economics, trade theory, public economics and industrial organization.”

“This survey has attempted an almost impossible task and as such is a useful contribution to the ranks of differential game theory books. It has features that will certainly appeal to economists who are interested in applying differential games to various fields in economics and could serve as a supplementary reference on applications in differential game theory courses.”

“The book under review gives an excellent survey on the dynamic games in economics. All over, this is an outstanding book for any graduate student or researcher interested in dynamics games with economic applications.”

“Long's book is a valuable addition to the literature in the area of applied dynamic (differential) games. Written without unnecessary complexity and excessive mathematics the book offers its reader a clear view of how economic problems can be modeled and analyzed as dynamic games. The book is exceptionally well written and highly recommendable.”

“The book gives a wide variety of applications of dynamic game models in economics. The exposition is very clear and understandable for readers with sufficient mathematical background. The book can be recommended to graduate students and economists. Also it can be useful for dynamic games researchers who wish to familiarize themselves with the most recent papers in this field and to recollect some classical models.”