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In this paper we analyze the optimal management of a mixed fishery where the harvest is composed of a target and a bycatch species. In contrast to other studies, we have included the selectivity of the fishing gear as a control variable. The fishery is regulated by means of total allowable effort and with 2 different systems of total allowable catch (TAC): an aggregated and a disaggregated TAC. The main result obtained is that in an aggregated TAC program, the selectivity level and the decisiondoi:10.3354/esr00155 fatcat:ifv3bl4g5jggzew7dnkvbcxti4