Measuring fisheries management performance

How do we assess the performance of national and international fisheries management organizations? Many organizations produce measures of the extent of overfishing, typically classifying individual stocks as overfished if they are below some biomass threshold. Most agencies then report their overall status (i.e. percentage overfished, fully exploited, etc.) by giving equal weight to all stocks, regardless of stock size or potential yield. We review the range of indices used to assess overfishing levels and apply them to the data from US fisheries to show how they depict very different performance of fisheries. Given that overfishing is a concept imbedded in the maximization of long-term harvest, we evaluate how well these indices reflect the extent to which fisheries have maximized sustainable yield. Indices that are weighted by the potential yield of the stock much better reflect the regional performance of fisheries but are still limited by the arbitrary use of a threshold abundance. For the United States, weighting by maximum sustainable yield or value suggests that the losses from overfishing are less than existing methods using equal weighting and that underfishing is much more common than overfishing.