Consequences of fleet diversification in managed and unmanaged fisheries

Abstract: Biological diversity is known to play an important role in generating and maintaining ecosystem productivity and other functions, and has consequently become a central focus of many efforts to preserve ecosystem services. Theoretical parallels suggest the diversity of fishing fleets may have a similarly important role in determining the productivity and ecological impacts of fisheries, but this possibility has rarely been explored. Here I present theoretical analyses showing that the diversity of m\'etiers - combinations of technology, target species, and fishing grounds - and technical efficiencies in a fishing fleet have important impacts on the productivity, profitability, and ecological impacts of fisheries, particularly mixed-stock or multispecies fisheries. Diversification of m\'etiers can increase yields and reduce threats to weak stocks in both managed and unmanaged multispecies fisheries. Diversification of technical efficiencies creates opportunities for larger profits in managed fisheries, but often decreases yields and worsens impacts on weak stocks in unmanaged fisheries. These results suggest that the potential impact of management may be highest in fisheries with diverse fleets.