Optimal harvesting in the stochastic logistic growth model with finite horizon

DOI10.1137/110850943MaRDI QIDQ2848587zbMATH OpenOpenAlexFDO

Authors Hiroaki Morimoto

Publication date 26 September 2013

Published in SIAM Journal on Control and Optimization (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1137/110850943

zbMATH Keywords

viscosity solutionparabolic variational inequalityoptimal harvestingsingular controlpenalty equationmoving free boundary

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Variational inequalities (49J40) Stochastic models in economics (91B70)

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(15)

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• The structure of optimal solutions for harvesting a renewable resource
• Optimal harvesting of stochastic population models with periodic coefficients
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• Optimal ergodic harvesting under ambiguity
• A finite difference scheme for variational inequalities arising in stochastic control problems with several singular control variables
• Optimal harvesting of a renewable resource whose growth rate moves stochastically with three finite velocities

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