On selective harvesting of an inshore–offshore fishery: a bioeconomic model |
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Authors: | D Purohit K S Chaudhuri |
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Institution: | 1. Department of Mathematics , Sikkim Govt. College , Gangtok, India;2. Department of Mathematics , Jadavpur University , Kolkata-700032, India |
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Abstract: | A bioeconomic model is developed for the selective harvesting of a single species, inshore–offshore fishery, assuming that the growth of the species is governed by the Gompertz law. The dynamical system governing the fishery is studied in depth; the local and global stability of its non-trivial steady state are examined. Existence of a bionomic equilibrium is established under different parametric considerations. The optimal harvest policy is discussed by invoking Pontryagin's Maximum Principle. Lastly, the results are illustrated with the help of a numerical example. |
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