Authors
Arni Magnusson, André E Punt, Ray Hilborn
Publication date
2013
Journal
Fish and Fisheries
Volume
14
Issue
3
Pages
325-342
Publisher
Blackwell Publishing Ltd
Description
Fisheries management depends on reliable quantification of uncertainty for decision‐making. We evaluate which uncertainty method can be expected to perform best for fisheries stock assessment. The method should generate confidence intervals that are neither too narrow nor too wide, in order to cover the true value of estimated quantities with a probability matching the claimed confidence level. This simulation study compares the performance of the delta method, the bootstrap, and Markov chain Monte Carlo (MCMC). A statistical catch‐at‐age model is fitted to 1000 simulated datasets, with varying recruitment and observation noise. Six reference points are estimated, and confidence intervals are constructed across a range of significance levels. Overall, the delta method and MCMC performed considerably better than the bootstrap, and MCMC was the most reliable method in terms of worst‐case performance …
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