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Fishery Management in a Regime Switching Environment: Utility Based Approach
Abstract : In this paper we study the problem of optimal fishing for regime switching, which may be regarded as sequential optimal problem with changes of regimes. The growth dynamics of a given fish species is described by the differential stochastic logistic model in which we take into account two states: prior or during floods and after. The resulting dynamic programming principle leads to a system of variational inequalities, by means of viscosity solutions approach, we prove the existence and uniqueness of the value functions. Then numerical approximation is used to answer the question: what is the optimal fishing effort for a sustainable fishery?
Littérature citée [29 références]
https://hal.umontpellier.fr/hal-02433395
Contributeur : Anthony Herrada <>
Soumis le : jeudi 9 janvier 2020 - 09:39:19
Dernière modification le : samedi 11 janvier 2020 - 01:42:43
Archivage à long terme le : : samedi 11 avril 2020 - 11:39:46
Contributeur : Anthony Herrada <>
Soumis le : jeudi 9 janvier 2020 - 09:39:19
Dernière modification le : samedi 11 janvier 2020 - 01:42:43
Archivage à long terme le : : samedi 11 avril 2020 - 11:39:46
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