IntroductionEmpirical stock recruitment (S-R) relationships exhibit clear evidence of density dependence. Since the early works of Ricker (1954), Schaefer (1954), Beverton and Holt (1957) and others, characterizing and interpreting these relationships, much progress has been made in linking this density-dependence to ecological mechanisms. Reviewing our current understanding, Houde ( , 2009) stresses the distinction between a variety of oceanographic, climatic, and ecological mechanisms controlling recruitment and manifestly density-dependent mechanisms contributing to population regulation. While all controlling mechanisms combine to generate the observed large variability in recruitment even at constant spawning-stock biomass (SSB), only regulating mechanisms can explain the observed non-linear dependence of recruitment R on SSB. Among possible regulating mechanisms that have been considered are competition for refuge or territory, diseases or parasitism at various life stages, larval competition for oxygen, and densitydependent trophic (feeding) interactions, i.e., food intake and predation mortality, with cannibalism as a special case (Houde 2009).The goal of the present study is to test the plausibility of the hypothesis that S-R relationships are primarily shaped by the density dependencies of trophic interactions. In addition to its relevance for the interpretation of S-R data, this hypothesis also has a bearing on questions such as to what extent trophic interactions are relevant for management models or what the mechanisms are that determine the carrying capacity of individual stocks and entire communities (Batchelder and Kim 2008). Management aiming at maximum sustainable yield (MSY), in turn, hinges on a good understanding of density dependencies and carrying capacity. This is clear already from the textbook analysis of MSY for the logistic model (Conroy and Carroll 2009), where the optimal population biomass comes out as exactly half the carrying capacity.Our approach to this set of interrelated problems is to construct a species-rich fish-community model in which trophic interactions are the only source of density dependence, and to study in detail the resulting S-R relationships, relating them to observations. The model we study is a variant of the Fish Community Size Resolved Model (FCSRM) (Hartvig et al. 2011;Andersen and Pedersen 2010;Houle et al. 2012), developed based on theory by . In this model, individual fish interact exclusively through predator-prey relationships. Just as in the original model formulation by Hartvig et al. (2011), individual reproductive output is a linear function of food intake (with negative intercept), that is, S-R relationships are not a priori built into the model. Density dependencies in the model arise only from the dependence of growth and fecundity on food availability and the dependence of mortality on the abundance of predators. Individuals are characterized by their momentary body mass and their species identity, with the latter determining prey, predators a...