How to avoid extinction of populations optimally exploited (Q1089284)
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scientific article; zbMATH DE number 4003972
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | How to avoid extinction of populations optimally exploited |
scientific article; zbMATH DE number 4003972 |
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How to avoid extinction of populations optimally exploited (English)
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1987
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A stochastic optimal control approach is introduced which quantifies the risk of extinction of the population associated with the optimal exploitation. Optimal harvesting strategies can be determined subject to the constraint that the risk of extinction does not exceed a given limit. By the example of a logistic growth it is demonstrated that the purely economic optimization delivers an unnecessarily high risk of extinction which can be lowered considerably without a substantial loss of profit.
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Fokker-Planck equation
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optimal exploitation
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Optimal harvesting strategies
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risk of extinction
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logistic growth
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