The optimal harvesting problem with a land market: a characterization of the asymptotic convergence (Q1016335)

In the paper, an optimal forest management problem where the resource is the land surface and may be allocated among forest species is considered. The author utilizes a discrete time optimal control model which admits the possibility of buying and selling land. Convergence of optimal trajectories to sustainable states or to periodic cycles are proven under several kinds of assumptions. The case where land conversion is costly is also discussed.