STABILITY AND HOPF BIFURCATION OF THE COEXISTENCE EQUILIBRIUM FOR A DIFFERENTIAL-ALGEBRAIC BIOLOGICAL ECONOMIC SYSTEM WITH PREDATOR HARVESTING

The objective of the current paper is to investigate the dynamics of a new bioeconomic predator prey system with only predator's harvesting and Holling type III response function. The system is equipped with an algebraic equation because of the economic revenue. We offer a detailed mathematical analysis of the proposed model to illustrate some of the significant results. The boundedness and positivity of solutions for the model are examined. Coexistence equilibria of the bioeconomic system have been thoroughly investigated and the behaviours of the model around them are described by means of qualitative theory of dynamical systems (such as local stability and Hopf bifurcation). The obtained results provide a useful platform to understand the role of the economic revenue v. We show that a positive equilibrium point is locally asymptotically stable when the profit v is less than a certain critical value v(1)*, while a loss of stability by Hopf bifurcation can occur as the profit increases. It is evident from our study that the economic revenue has the capability of making the system stable (survival of all species). Finally, some numerical simulations have been carried out to substantiate the analytical findings.

Automated summary

This paper investigates the dynamics of a new bioeconomic predator-prey system with only predator's harvesting and Holling type III response function. The mathematical analysis shows that the positive equilibrium point is locally asymptotically stable when profit is below a critical value, but can become unstable through a Hopf bifurcation as profit increases. The study highlights the role of economic revenue in making the system stable and includes numerical simulations to support the analytical findings.