Article ID: | iaor1992536 |
Country: | Germany |
Volume: | 35 |
Start Page Number: | 351 |
End Page Number: | 364 |
Publication Date: | Jul 1991 |
Journal: | Mathematical Methods of Operations Research (Heidelberg) |
Authors: | Kaitala V., Leitmann G. |
The authors consider a resource management problem in which the management objective is to minimize fluctuations in resource stocks. Stabilizing management policies constitute the designing of memoryless state feedback control strategies for a discrete time resource model which contains unknown but bounded fluctuations. The authors also show that the problem of maximizing sustainable yield in an uncertain fishery can be considered as the problem of stabilizing of the stock level.