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In mixed fisheries where there is an increased ecological interdependence between two or more target species, the possibilities of fishing these species must be determined jointly, since catches of one species will impact the natural growth not only of that species but of the others, as well. The objective of this paper is to develop a predator-prey model for two major species caught by the EU fishing fleet on European Union fishing grounds. The predator and prey’s population dynamics follow the Lotka-Volterra equation and are assumed to be logic-based, and a lineal interaction between the predator and prey populations is assumed. Optimal single owner multispecies fishery management is analysed, and the applied model is solved, obtaining the equilibrium value of biomasses, catches, and net benefits of the mixed fishery. The results show that the MSY of the predator is higher than that estimated by ICES, while MSY for prey is lower. The sensitivity analysis of the results reveals that the biomass levels of both species decrease as the discount rate increases, while catches increase.

Fisheries Management under Ecological Interdependence: The Case of European Hake and Blue Whiting Fishery