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The Cyclical Exploitation of Renewable Resource Stocks May Be Optimal

✍ Scribed by Franz Wirl


Book ID
115623466
Publisher
Elsevier Science
Year
1995
Tongue
English
Weight
506 KB
Volume
29
Category
Article
ISSN
0095-0696

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Optimal exploitation of renewable resour
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## Abstract We study a model for the exploitation of renewable stocks developed in Clark __et al__. (__Econometrica__ 1979; **47**:25–47). In this particular control problem, the control law contains a measurable and an impulsive control component. We formulate Pontryagin's maximum principle for th