The overall objective of TRANZEF is to develop a bio-economic model to evaluate the impact of flexible economic management on fishermen's behaviour and harvested resources. The model will be developed based on New Zealand mixed fisheries. First, catch mi x in specific mixed fisheries will be modelled in relation to various factors including location decisions, gear choice, timing of fishing, and, importantly, availability of quota and deemed value penalties. This could be done in a variety of ways and, wherever possible, a comparison of the outputs generated by the different approaches will be carried out.Fishing behaviour will then be modelled in relation to economic management, with particular focus on Individual Transferable Quotas in New Zealand. The candidate bio-economic model, based on Random Utility Models, will be used to evaluate the impact of management strategies that builds in economic behaviour, on the dynamics of fishing fleets and harvested resources. Finally, during the return phase of the project, the experience gained in building the TRANZEF model applicable to the New Zealand mixed-fisheries will be transferred to develop a management strategy evaluation (MSE) applicable to French mixed fisheries, which would build in economic behaviour. The carrying idea of this investigation will be to compare the overall performances of the EU fishery system when regulated by traditional or economic management tools.