Applying single-species assessment and quotas in multispecies fisheries can lead to overfishing or quota underutilization, because
advice can be conflicting when different stocks are caught within the same fishery. During the past decade, increased focus on
this issue has resulted in the development of management tools based on fleets, fisheries, and areas, rather than on unit fish
stocks. A natural consequence of this has been to consider effort rather than quota management, a final effort decision being
based on fleet-harvest potential and fish-stock-preservation considerations. Effort allocation between fleets should not be based on
biological considerations alone, but also on the economic behaviour of fishers, because fisheries management has a significant
impact on human behaviour as well as on ecosystem development. The FcubEcon management framework for effort allocation
between fleets and fisheries is presented, based on the economic optimization of a fishery’s earnings while complying with stock-preservation
criteria. Through case studies of two European fisheries, it is shown how fishery earnings can be increased significantly by
reallocating effort between fisheries in an economically optimal manner, in both effort-management and single-quota management
settings.Applying single-species assessment and quotas in multispecies fisheries can lead to overfishing or quota underutilization, because
advice can be conflicting when different stocks are caught within the same fishery. During the past decade, increased focus on
this issue has resulted in the development of management tools based on fleets, fisheries, and areas, rather than on unit fish
stocks. A natural consequence of this has been to consider effort rather than quota management, a final effort decision being
based on fleet-harvest potential and fish-stock-preservation considerations. Effort allocation between fleets should not be based on
biological considerations alone, but also on the economic behaviour of fishers, because fisheries management has a significant
impact on human behaviour as well as on ecosystem development. The FcubEcon management framework for effort allocation
between fleets and fisheries is presented, based on the economic optimization of a fishery’s earnings while complying with stock-preservation
criteria. Through case studies of two European fisheries, it is shown how fishery earnings can be increased significantly by
reallocating effort between fisheries in an economically optimal manner, in both effort-management and single-quota management
settings.