THE SIMULATION APPROACH TO EVALUATING FISHERIES ASSESSMENT AND MANAGEMENT TOOLS: WHAT CAN IT DO FOR THE IOTC?

The simulation approach to evaluating fisheries management tools is often referred to as management strategy evaluation (MSE). The purpose of the (MSE) approach is finding robust decision frameworks for management in the face of uncertainty, and multiple, usually confl icting, management objectives. The approach is usually employed to evaluate feedback harvest strategies, but it also embraces evaluations that do not necessarily deal explicitly with feedback harvest strategies. Such examples include evaluations focusing on robustness and performance of assessment methods, stock indicators and biological reference points.One of the key components of any such evaluations is the operating model which mimics the underlying reality, particularly of the stock and fishery dynamics. In the context of the work of the IOTC, there are three areas where simulation studies can be of great use: 1) evaluation of stock-status indicators and associated reference points, 2) evaluation of assessment methods and 3) evaluation of CPUE-standardisation. There are many issues which require careful consideration when constructing operating models and designing simulation trials