Market intervention policies when production is risky (English)

Exploration of some of the implications of a multiplicative risk model suggests that such a model leads to the rather surprising result that optimally distorted market prices are more efficient for social welfare than prices determined through a competitive market equilibrium. The model is based on the assumption that supply and demand schedules are linear and only supply is risky. Model equations derive anticipated price lag between forecast decisions...
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Hazell,Peter B.; Scandizzo,Pasquale L..

Market intervention policies when production is risky (English). World Bank reprint series ; no. REP 24 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/626521468183853434

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