| Article ID: | iaor201522424 |
| Volume: | 35 |
| Issue: | 4 |
| Start Page Number: | 395 |
| End Page Number: | 411 |
| Publication Date: | Jul 2014 |
| Journal: | Optimal Control Applications and Methods |
| Authors: | Puchkova Alena, Rehbock Volker, Teo Kok Lay |
| Keywords: | agriculture & food, optimization |
We derive a closed‐form solution for a well‐known fisheries harvesting model with an additional state constraint. The problem is linear in the control and previous solutions appearing in the literature have been numerical in nature. The so‐called direct adjoining approach is used in our derivation and the optimal solutions turn out to be a mixture of bang‐bang and boundary arcs.