Optimal harvesting of renewable resources (Q1090592)
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scientific article; zbMATH DE number 4008070
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Optimal harvesting of renewable resources |
scientific article; zbMATH DE number 4008070 |
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Optimal harvesting of renewable resources (English)
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1988
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The aim of the paper is to investigate different types of calculus of variations solutions maximizing the present value of a renewable resource. It is found that there are two types of optimal stationary harvesting policies. For certain cost functions, bang-bang harvesting may be more profitable than either of these.
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calculus of variations
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renewable resource
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optimal stationary harvesting policies
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bang-bang harvesting
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