Techniques are provided for operating a reactor during a catalyst transition period. The instantaneous reaction rate during a catalyst transition period can be determined using real-time measured process variables, and material balance calculations to provide an instantaneous reaction rate in approximately real time. According to certain embodiments, a material balance can be performed on the reactor system using a continuous ideal stirred tank reactor to determine the fractions of each type of catalyst that are present in the reactor, as well as the overall weight percent of catalyst in the reactor. A controller can then calculate the overall instantaneous reaction rate based on the respective catalyst fractions and the overall weight percent of catalyst in the reactor. The catalyst feed rate can then be adjusted based on the determined instantaneous reaction rate to maintain the instantaneous reaction rate within desired limits during a catalyst transition period.