Assessing the effects of moving to maximum economic yield effort level in the western rock lobster fishery of Western Australia

► Assessment of maximum economic yield (MEY) effort level for a major lobster fishery. ► Reliable predictor of recruitment to fishery 3-4 years ahead used in MEY assessment. ► Economic assessment of effort reductions in a fishery moving to MEY over 2 years. ► Implementation of MEY effort resulted in an increase in profit of AUS$49 million. ► Assessment discusses a target effort level for the fishery management decision rule.