Marine Protected Areas are considered as a hedging tool against some of the uncertainties that trouble many fisheries today. Such tools are always connected with a cost; a premium. An optimal harvest rule is combined with a protected area to manage a fishery. The model ignores uncertainty, and...

We consider an infinite horizon optimization problem with arbitrary but finite periodicity in discrete time. The problem can be formulated as a fix-point problem for a contraction operator, and we provide a solution scheme for this class of problems. Our approach is an extension of the classical...

This study presents a multispecies stochastic model. The model suggests optimal fishing policy for two species in a three species predator prey ecosystem in the Barents Sea. We have employed stochastic dynamic programing to solve a three dimensional model, where catch is optimized by a...

This paper provides a concise guide to dynamic optimization with an integral treatment on various optimal control and dynamic programming problems. It presents essential theorems and methods for obtaining and characterizing solutions to these problems. The paper discusses Pontryagin's maximum...

We show how the classical Lagrangian approach to solving constrained optimization problems from standard calculus can be extended to solve continuous time stochastic optimal control problem. Connections to mainstream approaches such as the Hamilton-Jacobi-Bellman equation and the stochastic...

This paper develops and tests a dynamic optimization model of fishermen's investment behavior in a limited-entry fishery. Because exit from limited-entry fisheries may be irreversible, the fisherman has an incentive to maintain the right to fish (whether by actually fishing or by purchasing an...

This paper develops and tests a dynamic optimization model of fishermen's investment behavior in a limited-entry fishery. Because exit from limited-entry fisheries may be irreversible, the fisherman has an incentive to maintain the right to fish (whether by actually fishing or by purchasing an...

This paper develops and tests a dynamic optimization model of fishermen's investment behavior in a limited-entry fishery. Because exit from limited-entry fisheries may be irreversible, the fisherman has an incentive to maintain the right to fish (whether by actually fishing or by purchasing an...

A review of the basic theory of optimal open-source software contributions points to three keyfactors affecting supply: non-pecuniary benefits, future expected monetary returns, and opensourcelicence type...