We propose and analyze a stochastic competing two-species population dynamics model subject to jump and continuous correlated noises. Competing benthic algae population dynamics in river environment, which is an important engineering problem, motivates this new model. The model is a system of stochastic differential equations having a characteristic that the two populations are competing with each other through the environmental capacities; an increase in one population decreases the other's environmental capacity. Unique existence of the uniformly bounded strong solution is proven, and attractors of the solutions are identified depending on the parameter values. The Kolmogorov's backward equation associated with the population dynamics is formulated and its unique solvability in a Banach space with a weighted norm is discussed. A novel uncertain correlation case is also analyzed in the framework of viscosity solutions. Numerical computation results using a finite difference scheme and a Monte-Carlo method are presented to deeper analyze the model. Our analysis results can be utilized for establishment of a foundation for modeling, analysis and control of the competing population dynamics.
Keywords: Algae bloom; Kolmogorov’s backward equation; Population-dependent environmental capacity; River environment; Stochastic differential equation; Weak solutions.