Review
Abstract
Adequate numbers of relations have been provided to find the three unknowns following three equations: the state equation, the adjoint equation and maximum principle equation. If rigor is sacrificed, then a partial solution is quickly obtained by using the concept of calculus of variation. Our appealing and intuitive harvesting policy would be that, refrain from harvesting along the singular path, because zero harvest is not optimal.
Key words: Harvesting, bang-bang-control, singular control, maximum principle hamiltonian, Euler equation and switching function.
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