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Closed‐form solutions of a fishery harvesting model with state constraint
Author(s) -
Puchkova Alena,
Rehbock Volker,
Teo Kok Lay
Publication year - 2013
Publication title -
optimal control applications and methods
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.458
H-Index - 44
eISSN - 1099-1514
pISSN - 0143-2087
DOI - 10.1002/oca.2076
Subject(s) - constraint (computer aided design) , boundary (topology) , state (computer science) , mathematical optimization , mathematics , mathematical economics , control (management) , control theory (sociology) , computer science , algorithm , mathematical analysis , artificial intelligence , geometry
SUMMARY 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. Copyright © 2013 John Wiley & Sons, Ltd.