Experiences with the use of bioeconomic models in the management of Australian and New Zealand fisheries

Australian and New Zealand fisheries are considered the best managed in the world. Much of this is due to the explicit recognition of the role of incentives in the management of fisheries, and the benefits that can be achieved through the maximisation of economic returns as a key management objective. However, while management of fisheries in Australia is supported through the application of bioeconomic models, these play virtually no role in fisheries management in New Zealand. This discrepancy is a direct result of the differing emphasis on how economic objectives are achieved, with Australia targeting maximum economic yield (MEY) while New Zealand targets maximum sustainable yield. We present case studies from Australia illustrating how bioeconomic models have been developed to support fisheries management and briefly discuss the situation in New Zealand. While economic considerations are important in both countries, we find that the explicit MEY target in Australian Commonwealth managed fisheries has been a key driver for the development and use of bioeconomic models in fisheries management.