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Survival maximization for a Laguerre population

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  • Mario Lefebvre

Abstract

A population whose evolution is approximately described by a Laguerre diffusion process is considered. Let Y ( t ) be the number of individuals alive at time t and T ( y , t 0 ) be the first time Y ( t ) is equal to either 0 or d ( > 0 ) , given that Y ( t 0 ) = y is in ( 0 , d ) The aim is to minimize the expected value of a cost criterion in which the final cost is equal to 0 if Y ( T ) = d and to ∞ if Y ( T ) = 0. The case when the final cost is 0 (respectively ∞ ) if T is greater than or equal to (resp. less than) a fixed constant s is also solved explicitly. In both cases, the risk sensitivity of the optimizer is taken into account.

Suggested Citation

  • Mario Lefebvre, 2002. "Survival maximization for a Laguerre population," Mathematical Problems in Engineering, Hindawi, vol. 8, pages 1-12, January.
    • Handle: RePEc:hin:jnlmpe:373980
    DOI: 10.1080/1024123021000061944
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