Abstract
We consider a resource management problem in which the management objective is to minimize fluctuations in resource stocks. Stabilizing management policies constitute the designing of memoryless state feedback control strategies for a discrete time resource model which contains unknown but bounded fluctuations. We also show that the problem of maximizing sustainable yield in an uncertain fishery can be considered as the problem of stabilizing of the stock level.
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The paper corresponds to an invited talk at the 14th Symposium on Operations Research, Ulm, September 6–8, 1989.
The support by Yrjö Jahnsson Foundation is gratefully acknowledged.
This work was supported by NSF and AFOSR under grant ECS 8602524.
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Kaitala, V., Leitmann, G. Stabilizing management of fluctuating resources. ZOR - Methods and Models of Operations Research 35, 351–364 (1991). https://doi.org/10.1007/BF01498327
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DOI: https://doi.org/10.1007/BF01498327