Scenario 1 reflects the situation in the TSRL fishery in 2010/2011 and therefore incorporates, among other input controls, a limit of 50 traps per vessel which was established prior to TAC management to control total effort. Although the TSRL fishery is quota managed, the emphasis in management up until 2011 had been on achieving higher catch rather than higher economic yield (Gardner, 2012). As a result, the catch rate of 0.79 kg/trap lift in 2010/11 was interpreted as an observed catch rate under management targeting MSY. Scenario 1 serves in our analysis as the base case.