Robust Control of a Spatially Distributed Commercial Fishery

31 Pages Posted: 28 Feb 2013

See all articles by William A. Brock

William A. Brock

University of Wisconsin, Madison - Department of Economics; University of Missouri at Columbia - Department of Economics

Anastasios Xepapadeas

Athens University of Economics and Business; University of Bologna - School of Economics, Management, and Statistics

A.N. Yannacopoulos

Athens University of Economics and Business

Date Written: February 26, 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.

Keywords: Spatiotemporal Dynamics, Model Uncertainty, Robust Control, Fishery

JEL Classification: D81, R12, Q22, C6

Suggested Citation

Brock, William A. and Xepapadeas, Anastasios and Yannacopoulos, Athanasios, Robust Control of a Spatially Distributed Commercial Fishery (February 26, 2013). FEEM Working Paper No. 11.2013, Available at SSRN: https://ssrn.com/abstract=2225263 or http://dx.doi.org/10.2139/ssrn.2225263

William A. Brock (Contact Author)

University of Wisconsin, Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706
United States
608-263-6655 (Phone)
608-263-3876 (Fax)

University of Missouri at Columbia - Department of Economics ( email )

118 Professional Building
Columbia, MO 65211
United States

Anastasios Xepapadeas

Athens University of Economics and Business ( email )

76 Patission Street
Athens, 104 34
Greece

University of Bologna - School of Economics, Management, and Statistics ( email )

Piazza Scaravilli 1
40126 Bologna, fc 47100
Italy

Athanasios Yannacopoulos

Athens University of Economics and Business ( email )

76 Patission Street
Athens, 104 34
Greece

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