Robust Control of a Spatially Distributed Commercial Fishery

William A. Brock (), Anastasios Xepapadeas and Athanasios N. Yannacopoulos ()
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William A. Brock: University of Wisconsin, Madisson
Athanasios N. Yannacopoulos: Athens University of Economics and Business

A chapter in Dynamic Optimization in Environmental Economics, 2014, pp 215-241 from Springer

Abstract: Abstract We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form of a stochastic linear quadratic robust optimal control problem, which is solved analytically. We focus on the emergence of breakdown from the robust stabilization policy, called hot spots, and comment upon their significance concerning the spatiotemporal behaviour of the system.

Keywords: Optimal Control Problem; Robust Control; Commercial Fishery; Model Misspecification; Turing Instability (search for similar items in EconPapers)
Date: 2014
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Related works:
Working Paper: Robust Control of a Spatially Distributed Commercial Fishery (2013)
Working Paper: Robust Control of a Spatially Distributed Commercial Fishery (2013)
Working Paper: Robust Control of a Spatially Distributed Commercial Fishery (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-3-642-54086-8_10

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DOI: 10.1007/978-3-642-54086-8_10

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