BANG-BANG, IMPULSE, AND SUSTAINABLE HARVESTING IN AGE-STRUCTURED POPULATIONS

An optimal harvesting problem is analyzed in the Lotka–McKendrick model of age-structured populations. Depending on the imposed constraints, this problem possesses bang-bang or impulse regimes, which have meaningful interpretations and relevant policy implications. A steady state analysis of the model produces closed-form solutions for the optimal sustainable harvesting in a new and an existing population.