A Model of Optimal Exploitation of Renewable Resources and Related Issues in Optimal Control Theory

This presentation focuses on a basic model for the optimal exploitation of renewable resources, alongside pertinent topics in the mathematical theory of optimal control. The model is framed as an infinite horizon optimal control problem. We introduce a recently developed complete version of the Pontryagin maximum principle applicable to such problems. Additionally, we provide an analytical exploration of the problem under consideration. Finally, we discuss the economic interpretation of the results obtained.