A viability analysis for a stock/price model
Abstract
We examine the conditions for the sustainability of a stock/price system based on the use of a marine renewable resource. Instead of studying the environmental and economic interactions in terms of optimal control, we focus on the viability of the system. These viability/crisis situations are defined by a set of economic state constraints. This constraints combine a guaranteed consumption and a minimum income for fishermen. Using the mathematical concept of viability kernel, we reveal that with only economics constraints we guarantee a perennial stock/price system.
- Publication:
-
Numerical Analysis and Applied Mathematics ICNAAM 2012: International Conference of Numerical Analysis and Applied Mathematics
- Pub Date:
- September 2012
- DOI:
- 10.1063/1.4756404
- Bibcode:
- 2012AIPC.1479.1343J