An Optimal Stopping Problem for Jump Diffusion Logistic Population Model

Yang Sun and Xiaohui Ai

Mathematical Problems in Engineering, 2016, vol. 2016, 1-5

Abstract:

This paper examines an optimal stopping problem for the stochastic (Wiener-Poisson) jump diffusion logistic population model. We present an explicit solution to an optimal stopping problem of the stochastic (Wiener-Poisson) jump diffusion logistic population model by applying the smooth pasting technique (Dayanik and Karatzas, 2003; Dixit, 1993). We formulate this as an optimal stopping problem of maximizing the expected reward. We express the critical state of the optimal stopping region and the optimal value function explicitly.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:5839672

DOI: 10.1155/2016/5839672

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