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Optimal dynamic control of predator–prey models

Author

Listed:
  • Otwin Becker

    (University of Heidelberg)

  • Ulrike Leopold-Wildburger

    (University of Graz)

Abstract

This paper combines work to use a decision support tool for sustainable economic development, while acknowledging interdependent dynamics of population density, and interferences from outside. We get new insights derived from experimental approaches: analytical models (optimal dynamic control of predator–prey models) provide optimal dynamic strategies and interventions, depending on different objective functions. Our economic experiments are able to test the applicability of these strategies, and in how far decision-makers can learn to improve decision-making by repeated applications. We aim to analyse a sustainable environment with diametrical goals to harvest as much as possible while allowing optimal population growth. We find interesting insights from those who manage the dynamic system. With the methodology of experimental economics, the experiment at hand is developed to analyse the capability of individual persons to handle a complex system, and to find an economic, stable equilibrium in a neutral setting. We have developed a most interesting simulation model, where it will turn out that prices play a less important role than availability of the goods. This aspect could become a new important aspect in economics in general and in sustainable environments especially.

Suggested Citation

  • Otwin Becker & Ulrike Leopold-Wildburger, 2020. "Optimal dynamic control of predator–prey models," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 28(2), pages 425-440, June.
    • Handle: RePEc:spr:cejnor:v:28:y:2020:i:2:d:10.1007_s10100-019-00656-7
    DOI: 10.1007/s10100-019-00656-7
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    References listed on IDEAS

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