Closed-form solutions of a fishery harvesting model with state constraint
Abstract
We derive a closed-form solution for a well-known fisheries harvesting model with an additional state constraint. The problem is linear in the control and previous solutions appearing in the literature have been numerical in nature. The so-called direct adjoining approach is used in our derivation and the optimal solutions turn out to be a mixture of bang-bang and boundary arcs.
Citation
Puchkova, Alena and Rehbock, Volker and Teo, Kok Lay. 2013. Closed-form solutions of a fishery harvesting model with state constraint. Optimal Control Applications and Methods. 35 (4): pp. 395-411.
Source Title
Optimal Control Applications and Methods
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