ISSN:
1522-9602
Source:
Springer Online Journal Archives 1860-2000
Topics:
Biology
,
Mathematics
Notes:
Abstract The maximum principle of deterministic optimal control, which has proved to be a very useful tool in theoretical bioeconomics, is extended in this article to cover the optimal exploitation of a biological resource vulnerable to catastrophic collapse, the probability of which may depend in general on the state of the resource, the current control and time. A general formulation of the maximum principle for such stochastic problems is presented and a number of applications are outlined. These include: optimal harvesting of a fishery vulnerable to catastrophic collapse; optimal thinning of a forest vulnerable to fire; optimal expenditure and investment in forest fire protection and optimal consumption-pollution tradeoffs in an ecosystem vulnerable to pollution-related collapse. In addition an application of the method to a highly stylized behavioral ecology model is given.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF02464829
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