Market Intermediaries and Price Instability: Some Welfare Implications

Jurg Bieri and Andrew Schmitz

American Journal of Agricultural Economics, 1974, vol. 56, issue 2, 280-285

Abstract: The welfare consequences of price instability critically depend on the type of market intermediary. Both a producer marketing board and a pure middleman will stabilize consumer prices; but the latter, unlike the producer marketing board, will find it advantageous to "manufacture" price instability for producers.

Date: 1974
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