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Ordinary Differential Equations and Applied Dynamics Commons™
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Full-Text Articles in Ordinary Differential Equations and Applied Dynamics
Modelling The Dynamics Of A Renewable Resource Under Harvesting With Taxation As A Control Variable, B. Dubey, Atasi Patra, S. K. Sahani
Modelling The Dynamics Of A Renewable Resource Under Harvesting With Taxation As A Control Variable, B. Dubey, Atasi Patra, S. K. Sahani
Applications and Applied Mathematics: An International Journal (AAM)
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.