most citedSingular stochastic control problems motivated by the optimal sustainable exploitation of an ecosystem

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math.OC2024

The Solution to an Impulse Control Problem Motivated by Optimal Harvesting

Zhesheng Liu, Mihail Zervos

We consider a stochastic impulse control problem that is motivated by applications such as the optimal exploitation of a natural resource. In particular, we consider a stochastic s…

math.OC2020★ 3 cited

Singular stochastic control problems motivated by the optimal sustainable exploitation of an ecosystem

Gechun Liang, Zhesheng Liu, Mihail Zervos

We derive the explicit solutions to singular stochastic control problems of the monotone follower type with (a) an expected discounted criterion, (b) an expected ergodic criterion…