Political Economy of Agricultural Commodity Market Intervention
分析农产品商品市场为何接近理想竞争市场，但动态表现可能不佳，从而为质量标准化、信息传播和稳定计划等效率提升型干预提供空间，并指出稳定目标常被用作再分配政策的政治理由。
Commodity markets are characterized by trade in standardized, undifferentiated commodities and numerous traders. Consequently, such markets are highly competitive and trade is carried out in concentrated, low transaction cost exchanges. In this sense, commodity markets are the closest approximations to ideal neoclassical competitive markets. As commodity markets area also free of externalities, the resulting market equilibria are economically efficient. Nevertheless, owing to imperfect foresight and random shocks, the dynamic performance of commodity markets, may be suboptimal. Also, commodity markets' actual performance as exchange institutions may at times fall short of the theoretical ideal. Hence, some room ordinarily exists for efficiency enhancing intervention in the form of setting commodity quality standards, disseminating relevant trade information and establishing appropriate transaction procedures. In addition, commodity markets' stabilization programs offer a wide scope for improving the dynamic market performance; indeed, market stabilization objectives are often invoked as political justification of redistributive policies.