Publication Abstract
- Title
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Stochastic locally-optimal harvesting
- Publication Abstract
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Stochastic locally-optimal harvesting
J Horwood
Newly advanced theory is presented for the optimal regulation of discrete-time, non-linear, stochastic systems. The theory relies on local, second order approximations of the dynamic programming equation, trials of which have proved satisfactory in all tests to date. Certainty equivalence is established and an optimal stochastic control rule is derived to determine fishing mortality rates. The theory is applicable to the harvesting of single species, or of multiple interacting species with one or more fishing fleets and to pest control.
Reference:
J.W. Horwood, 1994. Stochastic locally-optimal harvesting. pp333-343 In: (Smith, S.J., Hunt, J.J. and Rivard, D (eds.)) Risk Evaluation and biological reference points of fisheries management. National Research Council and Dept. of Fish and oceans. Ottawa, Canada.
- Publication Internet Address of the Data
- Publication Authors
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J.W. Horwood*
- Publication Date
- January 1994
- Publication Reference
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pp333-343 In: (Smith, S.J., Hunt, J.J. and Rivard, D (eds.)) Risk Evaluation and biological reference points of fisheries management. National Research Council and Dept. of Fish and oceans. Ottawa, Canada
- Publication DOI: https://doi.org/
