Stochastic perturbations and fisheries management

Patrice Loisel

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Abstract: As most natural resources, fisheries are affected by random disturbances. The evolution of such resources may be modelled by a succession of deterministic process and random perturbations on biomass and/or growth rate at random times. We analyze the impact of the characteristics of the perturbations on the management of natural resources. We highlight the importance of using a dynamic programming approach in order to completely characterize the optimal solution, we also present the properties of the controlled model and give the behavior of the optimal harvest for specific jump kernels.

Keywords: Piecewise Deterministic Markov Process (PDMP); optimal control; value function (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-env
Note: View the original document on HAL open archive server: https://hal.science/hal-02276979v1
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Published in Natural Resource Modeling, 2019, pp.1-23. ⟨10.1111/nrm.12233⟩

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Working Paper: Stochastic perturbations and fisheries management (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02276979

DOI: 10.1111/nrm.12233

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