Optimal Control of Renewable Resources Based on the Effective Utilization Rate

Rui Wu, Zhengwei Shen and Fucheng Liao

Abstract and Applied Analysis, 2015, vol. 2015, 1-7

Abstract:

The effective utilization rate of exploited renewable resources affects the final total revenue and the further exploitation of renewable resources. Considering the effective utilization rate, we propose an optimal control model for the exploitation of the renewable resources in this study. Firstly, we can prove that the novel model is nonsingular compared with the singular basic model. Secondly, we solve the novel model and obtain the optimal solution by Bang-Bang theory. Furthermore, we can determine the optimal total resources and the maximal total revenue. Finally, a numerical example is provided to verify the obtained theoretical results.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://downloads.hindawi.com/journals/AAA/2015/369493.pdf (application/pdf)
http://downloads.hindawi.com/journals/AAA/2015/369493.xml (text/xml)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlaaa:369493

DOI: 10.1155/2015/369493

Access Statistics for this article

More articles in Abstract and Applied Analysis from Hindawi
Bibliographic data for series maintained by Mohamed Abdelhakeem ().