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Abstract
This survey reviews the literature on estimating single markets in disequilibrium in the
presence of regulated price andjor quantity controls, e.g., minimum price regimes andjor
marketing quotas. Most of the literature is found to describe pure econometric technique,
with only a few applications having emerged to date. Various reasons for the broad
non-acceptance of this literature are offered, including a perceived lack of realism. Proposals
to close this econometric theory-application gap are put forward, including: the use of
effective demand concepts in specifying demand and supply functions; synthesizing some
closely related literature on agricultural pricejquantity controls with disequilibrium econometrics
(i.e., endogenous government policy and the effects controls have on yield uncertainty
and price risk); and outlining more 'applicable' econometric technique extensions.