Evaluation of Schaefer's production model

Abstract

Schaefer's production model is one of the most widely used surplus production
models employed in fish stock assessment. This model leads to estimation of
the management reference points, namely, the Maximum Sustainable Yield
(MSY) and the corresponding optimal fishing effort (fMSY). In this paper, the
performance of the process error estimators of the parameters of the two nonequilibrium
formulations of the Schaefer's production model in the presence of
different magnitudes of the observation and process errors are investigated.
The choice of the appropriate formulation vis-a-vis the estimates of the parameters
and the management reference points is also discussed