A Stochastic Population Model for Managing the Atlantic Menhaden (Brevoortia tyrannus) Fishery and Assessing Managerial Risks

A model including an age-structure, a stochastic egg-recruitment relationship, density-dependent juvenile growth, age-dependent fishing mortality, and fecundity dependent upon size as well as age was used to investigate three types of harvesting strategies: constant yearly catch policies, constant fishing mortality rate policies, and "egg escapement" policies, which are defined in the article. Because of stochastic recruitment, constant yearly catch policies appear unsuitable for managing Atlantic menhaden (Brevoortia tyrannus). Both other types of policies are suitable, but the egg escapement policies have higher long-term average catches. Using decision theory, we investigated risks due to the randomness of recruitment and to the estimation errors for the biographical parameters in our model. The risks appear to be acceptable.