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Walters and Martell develop models that account for key ecological dynamics such as trophic interactions, food webs, multi-species dynamics, risk-avoidance behaviour, habitat selection and density-dependence. They treat fisheries policy development as a two-stage process, first identifying strategies for varying harvest in relation to changes in abundance, then finding ways to implement such strategies in terms of monitoring and regulatory procedures. This book provides a general framework for developing assessment models in terms of state-observation dynamics hypotheses, and points out that most fisheries assessment failures have been due to inappropriate observation model hypotheses rather than faulty models for ecological dynamics.