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

Abstract 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.