Optimal harvesting of a stochastic delay tri-trophic food-chain model with Lévy jumps

Hong Qiu and Wenmin Deng

Physica A: Statistical Mechanics and its Applications, 2018, vol. 492, issue C, 1715-1728

Abstract: In this paper, the optimal harvesting of a stochastic delay tri-trophic food-chain model with Lévy jumps is considered. We introduce two kinds of environmental perturbations in this model. One is called white noise which is continuous and is described by a stochastic integral with respect to the standard Brownian motion. And the other one is jumping noise which is modeled by a Lévy process. Under some mild assumptions, the critical values between extinction and persistent in the mean of each species are established. The sufficient and necessary criteria for the existence of optimal harvesting policy are established and the optimal harvesting effort and the maximum of sustainable yield are also obtained. We utilize the ergodic method to discuss the optimal harvesting problem. The results show that white noises and Lévy noises significantly affect the optimal harvesting policy while time delays is harmless for the optimal harvesting strategy in some cases. At last, some numerical examples are introduced to show the validity of our results.

Keywords: Optimal harvesting; Tri-trophic food-chain model; White noise; Time delays; Lévy jumps; Ergodic theory (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:492:y:2018:i:c:p:1715-1728

DOI: 10.1016/j.physa.2017.11.092

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