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Hybrid dynamics of multi-species resource exploitation

Author

Listed:
  • Davide Radi

    (VS̆B–Technical University of Ostrava
    University of Pisa)

  • Fabio Lamantia

    (VS̆B–Technical University of Ostrava
    University of Calabria)

  • Tomáš Tichý

    (VS̆B–Technical University of Ostrava)

Abstract

In this paper, we analyze a bio-economic model of exploitation of renewable commercial resources. To take into account the typically continuous-time modeling of biological species and, instead, of the specialized harvesting activities, which by its nature cannot change continuously, the resulting dynamic system is of the hybrid type, i.e. continuous for biological variables and discrete for the economic ones. Through a discretization of the continuous variables, the problem is then reformulated by means of a three-dimensional map. Of this map, we study the dynamic properties to understand how economic parameters influence the long-run availability of resources.

Suggested Citation

  • Davide Radi & Fabio Lamantia & Tomáš Tichý, 2021. "Hybrid dynamics of multi-species resource exploitation," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 44(2), pages 559-577, December.
    • Handle: RePEc:spr:decfin:v:44:y:2021:i:2:d:10.1007_s10203-021-00336-9
    DOI: 10.1007/s10203-021-00336-9
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    References listed on IDEAS

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