Journal
JOURNAL OF ECONOMIC DYNAMICS & CONTROL
Volume 29, Issue 6, Pages 1097-1120Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jedc.2004.03.006
Keywords
renewable resources; optimal harvesting; conservation; predator-prey systems
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Optimal harvesting of prey in a predator-prey ecosystem is studied under the condition that the existence of the predator has value. Predators (birds) and humans (fishers) compete for prey (shellfish). The behavior of the system is studied and conditions for optimal control are deduced. Various optimal harvest rates are identified for particular ecosystem and economic parameters. We discuss optimal harvest rates, focusing on system characteristics that lead to the survival of birds. The approach path towards an optimal regime is shown qualitatively for different types of optimal harvest regimes. © 2004 Elsevier B.V. All rights reserved.
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