The effects of random environmental impacts on optimal exploitation of a fish population are investigated using both optimization and simulation, based on a discrete-time age-structured bioeconomic model. The optimization problem is solved as a non-linear programming problem in GAMS. First, a...

Many biological and economic processes in fishery happen seasonally. Most of the extant literature tends to neglect this fact. This work is an initial attempt to treat seasonality in a systematic and proper way. We apply a periodic Bellman approach to obtain the optimal feedback policy of each...