Fig. 1.
An overview of the bioeconomic model. (A) The biological and economic model components are coupled by the harvest control rule (HCR). The individual-based biological model describes the evolution of key life-history traits if genetic changes are allowed to occur in the model. The economic model accounts for the supply and demand side of the fishery, as well as for fleet profit generated. (B) The shape of the HCR depends on two parameters: above the level Bmax of spawning stock biomass, the maximum fishing mortality Fmax is allowed. Between Bmax and a biomass level of zero, fishing mortality linearly decreases from Fmax to zero. The structure of this HCR is in agreement with that advised in 2004 by the International Council for the Exploration of the Sea for the Northeast Arctic cod fishery.