DocumentCode
2338867
Title
Necessary optimality conditions for fractional bioeconomic systems
Author
Filatova, Daria V. ; Grzywaczewski, Marek
Author_Institution
Anal. Centre, Russian Acad. of Sci., Moscow
fYear
2008
fDate
25-27 May 2008
Firstpage
965
Lastpage
969
Abstract
We consider the task of bioeconomic optimal control. The biomass dynamics is given by fractional stochastic differential equation. The discounted multiplicative production function describes net revenue and takes into account elasticity coefficients. Stochastic control problem is converting to non-random one. Necessary optimality conditions with respect to fractional terms are formulated as theorems and present the main result of this paper.
Keywords
differential equations; economics; optimal control; stochastic systems; bioeconomic optimal control; biomass dynamics; discounted multiplicative production function; elasticity coefficients; fractional bioeconomic systems; fractional stochastic differential equation; net revenue; optimality conditions; stochastic control problem; Biological system modeling; Biomass; Differential equations; Ecosystems; Elasticity; Environmental economics; Optimal control; Production; Region 8; Stochastic processes; bioeconomic; fractional stochastic differential equation; optimal control;
fLanguage
English
Publisher
ieee
Conference_Titel
Human System Interactions, 2008 Conference on
Conference_Location
Krakow
Print_ISBN
978-1-4244-1542-7
Electronic_ISBN
978-1-4244-1543-4
Type
conf
DOI
10.1109/HSI.2008.4581574
Filename
4581574
Link To Document