:: Volume 8, Issue 2 (5-2017) ::
IJOR 2017, 8(2): 58-67 Back to browse issues page
Optimal Stochastic Control in Continuous Time with Wiener Processes: General Results and Applications to Optimal Wildlife Management
Peter Lohmander Dr.
Ph.D. Optimal Solutions in cooperation with Linnaeus University , peter@lohmander.com
Abstract:   (257 Views)
We present a stochastic optimal control approach to wildlife management. The objective value is
the present value of hunting and meat, reduced by the present value of the costs of plant damages
and traffic accidents caused by the wildlife population. First, general optimal control functions and
value functions are derived. Then, numerically specified optimal control functions and value
functions of relevance to moose management in Sweden are calculated and presented.
Keywords: Stochastic optimal control, Wildlife management, Partial differential equations, Moose.
Full-Text [PDF 579 kb]   (160 Downloads)    
Type of Study: Original | Subject: Other
Received: 2018/05/28 | Accepted: 2018/05/28 | Published: 2018/05/28

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Volume 8, Issue 2 (5-2017) Back to browse issues page