PRICE STABILIZATION AND WELFARE

I. Introduction, 284. — II. The Waugh-Oi results, 285. — III. A model with producers and consumers, 288. — IV. A positive storage cost, 290. — V. The gains from price stabilization: a more general analysis, 290. — VI. The distribution of gains among producers and consumers, 293. — VII. Gains to individual producers and consumers, 294. — VIII. Quantity destablization, 296 — IX. Time trend, 297. — X. Conclusions, 297. Copyright, 1969, by the President and Fellows of Harvard College. © 1969, Oxford University Press. All rights reserved.