Optimal harvesting of a stochastic mutualism model with Lévy jumps

Meng Liu and Chuanzhi Bai

Applied Mathematics and Computation, 2016, vol. 276, issue C, 301-309

Abstract: In this letter, a stochastic mutualism model with Lévy jumps and harvesting is considered. Under some simple assumptions, sufficient and necessary criteria for the existence of optimal harvesting policy are established. The optimal harvesting effort and the maximum of sustainable yield are also obtained. The effects of random noises on the optimal harvesting of the model are discussed and some numerical simulations are introduced to illustrate the main results.

Keywords: Optimal harvesting; Lévy jumps; Mutualism; White noise; Itô’s formula; Ergodic theory (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:apmaco:v:276:y:2016:i:c:p:301-309

DOI: 10.1016/j.amc.2015.11.089

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