The Relative Value-of-Information for Model Based and Empirical Management Procedures: A Mediterranean Bluefin Example

The relative value-of-information for model based and empirical Management Procedures is compared for Mediterranean bluefin tuna using Management Strategy Evaluation. This is done by conditioning an Operating Model on alternative hypotheses about population and fishery dynamics. Data, fisheries and fisheries independent are sampled from the Operating Model to evaluate different harvest control rules as part of a Management Procedure. This allows scenarios and data sets to be simulated that reflect uncertainty about our knowledge of biology, ecology and our ability to observe and control the fisheries. The different Management Procedures are evaluated with respect to their ability to meet multiple management objectives. This is done by considering the trade-offs between the objectives for different choices (e.g. to invest in fisheries independent surveys, tagging studies to estimate natural mortality) and the robustness of the MPs, e.g. to environmental variability. This allows the relative benefits of improving knowledge on population and fishery dynamics to be evaluated.