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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
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Gaston Clément Nyassoke Titi, Jules Sadefo-Kamdem, Louis Aimé Fono. Fishery Management in a Regime Switching Environment: Utility Based Approach. Results in Applied Mathematics, Elsevier B.V., 2020, 7, pp.100125. ⟨10.1016/j.rinam.2020.100125⟩. ⟨hal-02923728⟩



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