TY - JOUR T1 - The Cost of Co-viability in the Australian Northern Prawn Fishery A1 - Gourguet,Sophie A1 - Thebaud,Olivier A1 - Jennings,Sarah A1 - Little,L. Richard A1 - Dichmont,Catherine M. A1 - Pascoe,Sean A1 - Deng,Roy A. A1 - Doyen,Luc AD - IFREMER, AMURE, Unite Econ Maritime, UMR M101, BP 70, F-29280 Plouzane, France. AD - Queensland Univ Technol, Sch Econ & Finance, Brisbane, Qld 4001, Australia. AD - Univ Tasmania, Tasmanian Sch Business & Econ, Private Bag 84, Hobart, Tas 7000, Australia. AD - CSIRO, Oceans & Atmosphere Flagship, POB 1538, Hobart, Tas 7001, Australia. AD - Univ Tasmania, Ctr Marine Socioecol, Private Bag 129, Hobart, Tas 7000, Australia. AD - CSIRO, Oceans & Atmosphere, POB 2583, Brisbane, Qld 4001, Australia. AD - Univ Bordeaux, CNRS, GREThA, Ave Leon Duguit, F-33608 Pessac, France. UR - https://doi.org/10.1007/s10666-015-9486-y DO - 10.1007/s10666-015-9486-y KW - Bio-economic modeling KW - Co-viability cost KW - Conflicting management objectives KW - Trawling impacts KW - Uncertainty KW - Northern prawn fishery N2 - Fisheries management must address multiple, often conflicting objectives in a highly uncertain context. In particular, while the bio-economic performance of trawl fisheries is subject to high levels of biological and economic uncertainty, the impact of trawling on broader biodiversity is also a major concern for their management. The purpose of this study is to propose an analytical framework to formally assess the trade-offs associated with balancing biological, economic and non-target species conservation objectives. We use the Australian Northern Prawn Fishery (NPF), which is one of the most valuable federally managed commercial fisheries in Australia, as a case study. We develop a stochastic co-viability assessment of the fishery under multiple management objectives. Results show that, due to the variability in the interactions between the fishery and the ecosystem, current management strategies are characterized by biological and economic risks. Results highlight the trade-offs between respecting biological, economic and non-target species conservation constraints at each point in time with a high probability and maximizing the net present value of the fishery. Y1 - 2016/06 PB - Springer JF - Environmental Modeling & Assessment SN - 1420-2026 VL - 21 IS - 3 SP - 371 EP - 389 ID - 41073 ER -