The econometrics of markets with quantity controls

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Abstract

This paper presents econometric methods for single markets with quantity controls or quotas. A theory of quotas based on disequilibrium/bargaining notions is outlined. Maximum likelihood methods are described for these theories. The methods are applied to the Australian tobacco-leaf market. It is argued that cigarette manufacturers gain slightly more from the bargaining process than tobacco-growers.

Original languageEnglish
Pages (from-to)497-504
Number of pages8
JournalApplied Economics
Volume23
Issue number3
DOIs
Publication statusPublished - 01 Mar 1991

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