Abstract
Here we investigate the optimal harvesting of an age-structured population. We use the McKendrick model of population dynamics, and optimize a discounted yield on an infinite time horizon. The harvesting function is allowed to depend arbitrarily on age and time and its magnitude is unconstrained. We obtain, in addition to existence, the qualitative result that an optimal harvesting policy consists of harvesting at no more than three distinct ages.
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Murphy, L.F., Smith, S.J. Optimal harvesting of an age-structured population. J. Math. Biol. 29, 77–90 (1990). https://doi.org/10.1007/BF00173910
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DOI: https://doi.org/10.1007/BF00173910