Robust Control of a Spatially Distributed Commercial Fishery

Authors

William A. Brock, Department of Economics, University of Wisconsin, and Department of Economics, University of MissouriFollow
Anastasios Xepapadeas, Department of International and European Economic Studies, Athens University of Economics and Business
Athanasios. N. Yannacopoulos, Department of Statistics, Athens University of Economics and Business

Date of This Version

February 2013

Abstract

We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form of a stochastic linear quadratic robust optimal control problem, which is solved analytically. We focus on the emergence of breakdown from the robust stabilization policy, called hot spots, and comment upon their significance concerning the spatiotemporal behaviour of the system.

Recommended Citation

Brock, William A.; Xepapadeas, Anastasios; and Yannacopoulos, Athanasios. N., "Robust Control of a Spatially Distributed Commercial Fishery" (February 27, 2013). Fondazione Eni Enrico Mattei Working Papers. Paper 762.
https://services.bepress.com/feem/paper762