Modelling the Dynamics of a Renewable Resource under Harvesting with Taxation as a Control Variable

Authors

B. Dubey, Birla Institute of Technology and Science
Atasi Patra, Birla Institute of Technology and Science
S. K. Sahani, South Asian University

Abstract

The present paper describes a model of resource biomass and population with a non-linear catch rate function on resource biomass. The harvesting effort is assumed to be a dynamical variable. Tax on per unit harvested resource biomass is used as a tool to control exploitation of the resource. Pontryagin’s Maximum Principle is used to find the optimal control to maintain the resource biomass and population at an optimal level. A numerical simulation is also carried out to support the analytical results.

Recommended Citation

Dubey, B.; Patra, Atasi; and Sahani, S. K. (2014). Modelling the Dynamics of a Renewable Resource under Harvesting with Taxation as a Control Variable, Applications and Applied Mathematics: An International Journal (AAM), Vol. 9, Iss. 2, Article 10.
Available at: https://digitalcommons.pvamu.edu/aam/vol9/iss2/10