2831. Optimal control of a damaging population through total catastrophes
Invited abstract in session WD-54: Stochastic Models and Optimal Control , stream Stochastic modelling.
Wednesday, 14:30-16:00Room: Liberty 1.08
Authors (first author is the speaker)
| 1. | Epaminondas Kyriakidis
|
| Statistics, Athens University of Economics and Business |
Abstract
A pest population grows in an area according to a simple deterministic immigration-birth-death process. The pest population may be controlled by some action that introduces total catastrophes. The length of time until the occurrence of a catastrophe is exponentially distributed. We restrict our attention to the class P of control-limit policies that take controlling action if and only if the pest population size exceeds a critical number. The control-limit policy which minimizes the expected long-run average cost per unit time within the class P is found. The optimal control-limit policy is compared with the optimal control-limit policy that we obtain in the case in which the pest population grows according to the simple stochastic immigration-birth-death process. Numerical results are provided to illustrate the theoretical results.
Keywords
- Stochastic Models
- Optimal Control
- Optimization Modeling
Status: accepted
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