The use of bioeconomic models as a descriptive device allows for the examination of economic tradeoffs, including the estimation of potential profits. The fact that bioeconomic models entail the specification of an objective function (which can be a multi-objective function) can force diverse stakeholder groups to be transparent in their objectives and performance indicators. The identification of performance indicators is critical because it can provide additional metrics to be tracked during the ongoing collection of data on the fishery for monitoring and evaluation.