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Methods of Estimation for Models of Markets with Bounded Price Variation

Maddala, G. S. (1979) Methods of Estimation for Models of Markets with Bounded Price Variation. Social Science Working Paper, 296. California Institute of Technology , Pasadena, CA. (Unpublished)

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The paper describes methods of estimation for models of markets with controlled prices. Many practical situations involving disequilibrium are due to price ceilings or price floors or both and thus the category of the models described here. The paper also distinguishes between "rationing models" where the short side of the market prevails, and "trading models" where no trading takes place if there is excess demand or excess supply.

Item Type:Report or Paper (Working Paper)
Related URLs:
URLURL TypeDescription ItemLater published version in International Economic Review
Additional Information:Financial support from the National Science Foundation under grant SOC78-09473 is gratefully acknowledged. Published as Maddala, G. S. "Methods of estimation for models of markets with bounded price variation." International Economic Review (1983): 361-378.
Group:Social Science Working Papers
Funding AgencyGrant Number
Subject Keywords:Supply, Mortgage loans, Rationing, Economic models, Bank loans, Market disequilibrium, Loan rates, Estimation methods, Price ceilings, Mathematical models
Series Name:Social Science Working Paper
Issue or Number:296
Record Number:CaltechAUTHORS:20171013-152035345
Persistent URL:
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82350
Deposited By: Jacquelyn Bussone
Deposited On:16 Oct 2017 18:50
Last Modified:03 Oct 2019 18:53

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