Harvesting from a Population in a Stochastic Crowded Environment with Harvesting Cost
نویسندگان
چکیده
We study the problem on optimal harvesting from a population in a stochastic crowded environment with harvesting cost. In this problem, the size of the population satisfy the stochastic logistic differential equation, which serves as a model for population growth in a stochastic environment with finite carrying capacity when harvesting is exercised. We consider the following problem: What harvesting strategy maximizes the expected discounted total harvested profit? We formulate this as a stochastic control problem and obtain the optimal harvesting strategy and the corresponding optimal harvesting profit function explicitly.
منابع مشابه
Decision making in forest management with consideration of stochastic prices
The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stoch...
متن کاملAsymptotic harvesting of populations in random environments
We consider the harvesting of a population in a stochastic environment whose dynamics in the absence of harvesting are described by the logistic Verhulst-Pearl model. Using ergodic optimal control, we find the optimal harvesting strategy which maximizes the asymptotic yield of harvested individuals. To our knowledge, ergodic optimal control has not been used before to study harvesting strategie...
متن کاملInvestigating on the role of rainwater harvesting and springs in compensating water consumption and cost in the Divandareh city, Kurdistan Province
Due to the lack of adequate sources of drinking water and uncertainty about the quality of these sources, along with rising water demand due to population growth, it is important to find a suitable solution to supply drinking water. Rainwater harvesting from roofs and use of natural discharge from springs are among techniques which can replace surface and underground water resources. The city o...
متن کاملA theory of stochastic harvesting in stochastic environments.
We investigate how model populations respond to stochastic harvesting in a stochastic environment. In particular, we show that the effects of variable harvesting on the variance in population density and yield depend critically on the autocorrelation of environmental noise and on whether the endogenous dynamics of the population display over- or undercompensation to density. These factors inter...
متن کاملOn Optimal Harvesting Problems in Random Environments
Chao Zhu is an assistant professor at UWMilwaukee. His research interests include applied probability and stochastic processes; actuarial sciences and fi nance; computational linear algebra; and mathematical statistics. We consider the optimal harvesting problem for a single species living in random environments whose growth is given by a regimeswitching diff usion. Harvesting acts as a (stocha...
متن کامل