Bio-economics of a renewable resource subjected to strong Allee effect

• Deals with management of renewable resource influenced by strong Allee effect.
• Optimal harvesting problem is solved from sole owner perspective.
• Optimal harvest problem admits multiple singular solutions.
• Optimal and suboptimal approach paths are constructed.
• Key results are illustrated through numerical simulation.

In this article bio-economics of a renewable resource that is subjected to strong Allee effect (multiplicative Allee effect) is investigated from sole owner perspective. The considered optimal harvesting problem has been solved using Pontryagin maximum principle. The control problem admits multiple singular equilibrium solutions in contrast to the case where the growth of the resource is of compensatory nature. Thus the choice of optimal singular solution and the nature of associated approach paths make the problem pertinent and interesting.