https://hal.umontpellier.fr/hal-02433395Nyassoke Titi, Gaston ClémentGaston ClémentNyassoke TitiUniversité de DoualaSadefo-Kamdem, JulesJulesSadefo-KamdemMRE - Montpellier Recherche en Economie - UM - Université de MontpellierUG - Université de GuyaneFono, LouisLouisFonoUniversité de DoualaFishery Management in a Regime Switching Environment: Utility Based ApproachHAL CCSD2020regime switchingfloodscrra utilitylogistic growthmean-reverting pricesviscosity solutionHoward's algorithm[MATH] Mathematics [math][SHS.ECO] Humanities and Social Sciences/Economics and Finance[SDE.BE] Environmental Sciences/Biodiversity and EcologyHerrada, Anthony2020-01-09 09:39:192022-08-05 10:56:102020-01-10 10:18:46enPreprints, Working Papers, ...application/pdf1In 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?