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Optimal harvesting of renewable resources

Contributed Papers
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Abstract

The aim of the paper is to investigate different types of calculus of variations solutions maximizing the present value of a renewable resource. It is found that there are two types of optimal stationary harvesting policies. For certain cost functions, bang-bang harvesting may be more profitable than either of these.

Key Words

Optimal harvesting renewable resources calculus of variations bang-bang fishing 

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References

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    Clark, C. W.,Mathematical Bioeconomics, John Wiley and Sons, New York, New York, 1976.Google Scholar
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    Plourde, C. G.,A Simple Model of Replenishable Resource Exploitation, American Economic Review, Vol. 60, pp. 518–522, 1970.Google Scholar
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    Goh, B. S.,Management and Analysis of Biological Populations, Elsevier Scientific Publishing Corporation, Amsterdam, Holland, 1980.Google Scholar
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    Clark, C. W.,Bioeconomic Modelling and Fisheries Management, John Wiley and Sons, New York, New York, 1985.Google Scholar
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    Cliff, E. M., andVincent, T. L.,An Optimal Policy for a Fish Harvest, Journal of Optimization Theory and Applications, Vol. 12, pp. 485–496, 1973.Google Scholar

Copyright information

© Plenum Publishing Corporation 1988

Authors and Affiliations

  • C. Koen
    • 1
    • 2
  1. 1.Department of Applied MathematicsUniversity of Fort HareCiskeiSouth Africa
  2. 2.Department of BiomathematicsUniversity of BophuthatswanaMmabathoBophuthatswana, South Africa

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