  In this work the problem of optimal harvesting policy selection for natural
resources management under model uncertainty is investigated. Under the
framework of the neoclassical growth model dynamics, the associated optimal
control problem is investigated by introducing the concept of model uncertainty
on the initial conditions of the operational procedure. At this stage, the
notion of convex risk measures, and in particular the class of Fr\'echet risk
measures, is employed in order to quantify the total operational and marginal
risk, whereas simultaneously obtaining robust to model uncertainty harvesting
strategies.
