Near-Optimality in Stochastic Control of Predator-Pray System with Markov Switching

Xi Ning Li; Dong Mei Wei

doi:10.4028/www.scientific.net/AMM.319.558

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Near-Optimality in Stochastic Control of Predator-Pray System with Markov Switching

Abstract:

In this paper, we introduce a stochastic predator-pray system with Markov switching. We establish the necessary conditions of near-optimal control for this system. The proof of the main results are based on Ito's formula, Ekeland's variational principle and some estimates on the state and the adjoint process with respect to the control variable.

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Periodical:

Applied Mechanics and Materials (Volume 319)

Pages:

558-561

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.319.558

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Online since:

May 2013

Authors:

Xi Ning Li, Dong Mei Wei

Keywords:

Ekeland's Variational, Markov Switching, Near-Optimal, Necessary Conditions, Stochastic Predator-Pray System

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