Forage fish fisheries management requires a tailored approach to balance trade‐offs

Ecosystem‐based fishery management requires considering the effects of actions on social, natural and economic systems. These considerations are important for forage fish fisheries, because these species provide ecosystem services as a key prey in food webs and support valuable commercial fisheries. Forage fish stocks fluctuate naturally, and fishing may make these fluctuations more pronounced, yet harvest strategies intended to ameliorate these effects might adversely affect fisheries and communities. Here, we evaluate trade‐offs among a diverse suite of management objectives by simulating outcomes from several harvest strategies on forage fish species. We demonstrate that some trade‐offs (like those between catches and minimizing collapse length) were universal among forage species and could not be eliminated by the use of different control rules. We also demonstrate that trade‐offs vary among forage fish species, with strong trade‐offs between stable, high catches and high‐biomass periods (“bonanzas”) for menhaden‐ and anchovy‐like fish, and counterintuitive trade‐offs for sardine‐like fish between shorter collapses and longer bonanzas. We find that harvest strategies designed to maintain stability in catches will result in more severe collapses. Finally, we show that the ability of assessments to detect rapid changes in population status greatly affects control rule performance and the degree and type of trade‐offs, increasing the risk and severity of collapses and reducing catches. Together, these results demonstrate that while default harvest strategies are useful in data‐poor situations, management strategy evaluations that are tailored to specific forage fish may better balance trade‐offs.