Optimal pricing strategy for livestock of fishery and poultry

Shib Sankar Sana

Economic Modelling, 2012, vol. 29, issue 4, 1024-1034

Abstract: The paper deals with a joint project of fishery and poultry while growth rates of both the species depend on the available nutrients and environmental carrying capacities of biomasses. The demand rates of both the species in the market vary with the selling prices and on-hand stock of the species. The existence of steady states and its stability (local and global) analysis are studied in details. The relevant profit of the project is maximized with the help of Pontryagin's Maximum Principle. The model is justified by a suitable numerical example.

Keywords: Control theory; Dynamical system; Sales price; Equilibrium; Deterioration; Stability (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:29:y:2012:i:4:p:1024-1034

DOI: 10.1016/j.econmod.2012.03.010

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