Seasonality matters: A multi-season, multi-state dynamic optimization in fisheries

Yuanming Ni and Leif Sandal ()

European Journal of Operational Research, 2019, vol. 275, issue 2, 648-658

Abstract: Many biological and economic processes in fisheries occur seasonally though most of the extant literature tends to neglect periodicity. This work is an attempt to treat seasonality in a systematic way. We present a multi-season multi-state bioeconomic model and apply a periodic Bellman approach using dynamic programming to obtain the optimal feedback policy of each season. Our approach has rich potentials. It could deal with seasonal patterns of arbitrary uneven lengths: some may span years and some may occur within a year.

Keywords: OR in natural resources; Seasonality; Dynamic programming; Optimization; Fisheries (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:275:y:2019:i:2:p:648-658

DOI: 10.1016/j.ejor.2018.11.041

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