Closed-form solutions of a fishery harvesting model with state constraint


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

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This paper was published in espace@Curtin.

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