Bioeconomic modelling of a three-species fishery with switching effect. (Q1432818)

The authors study the problem of combined harvesting of a system involving one predator and two prey species fishery where the predator feeds more intensively on the more abundant species. They give a mathematical formulation for the optimal harvest policy and obtain its solution in the equilibrium case by using Pontryagin's maximum principle. They also discuss dynamic optimization of the harvest policy and explain biological and bioeconomic interpretations of the results associated with the optimal equilibrium solution.