Disequilibrium Market Analysis: An Application to the U.S. Fed Beef Sector

Disequilibrium Market Analysis: An Application to the U.S. Fed Beef Sector

In this paper current theory and estimation procedures are applied in an analysis of disequilibrium price behavior in the U.S. fed beef sector. Although tests of equilibrium versus disequilibrium hypotheses are not well developed, results indicate the possible presence of disequilibrium prices in th...

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Veröffentlicht in:American journal of agricultural economics 1982-02, Vol.64 (1), p.56-62
Hauptverfasser: Ziemer, Rod F., White, Fred C.
Format: Artikel
Sprache:eng
Schlagworte:
Beef
disequilibrium
Economic models
Equilibrium models
fed beef
Market disequilibrium
Market prices
Maximum likelihood estimation
Modeling
Price level changes
Supply
Supply and demand
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Zusammenfassung:In this paper current theory and estimation procedures are applied in an analysis of disequilibrium price behavior in the U.S. fed beef sector. Although tests of equilibrium versus disequilibrium hypotheses are not well developed, results indicate the possible presence of disequilibrium prices in the market for fed beef; at least the hypothesis of significant disequilibrium could not be rejected.
ISSN:0002-9092
1467-8276
DOI:10.2307/1241172