Abstract
This text forms volume 130, of hitherto unpublished empirical studies, in a series devoted to 'economic analysis' and the development of the science of Economics. As such, while a wide range of analytical techniques have been adopted, they are linked by a common theme; the quantitative solution to theoretical that arise in practical research. Specifically this book is concerned with management and economic policy problems written from the vantage point of control theory. This the editors quite rightly view as a present frontier in mathematics, and in social and environmental modelling.1 Although they intimate that currently some solutions to stochastic are math? ematically intractable, the results of a wide variety of policy described in this text (models of the Israeli meat sector to optimal management of energy) indicate the scope and flexibiiity of adopting this approach; not only in facilitating the investigation of new problems, but also producing solutions to well-established more elegantly. Given the seminal nature of the book, it is reasonable to expect that it is largely devoted to an exposition of Markovian systems which are theoretically more manageable yet pragmatically justifiable; being of particular importance in modelling dynamic sys? tems which are subject to random disturbances. Despite the fact that all the papers are of a very high standard, clearly indicating the potential usefulness of optimal control techniques, I would think that readers new to the area will find this text fragmentary and unhelpful, given the absence of any index. In view of the general aim of the series, it would also seem profitable to assist the reader by giving a brief summary of the existing literature (and references to follow up) as part of the introduction. In addition, although well-produced, the cost will appear somewhat prohibitive to the individual for a book which must be viewed as nothing more than a hard-bound set of articles (case-studies) which are too long for any journal.
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