Storage and English Government Intervention in Early Modern Grain Markets
研究1587年英国枢密院《救济匮乏法令》对谷物市场的干预效果，发现价格稳定并非源于政策，而是利润最大化的储存行为，且同期欧洲其他市场也有类似现象。
In 1587 the English Privy Council issued its first Book of Orders for the relief of dearth, a program of grain-market control that included forced delivery of private stocks to local markets in crisis periods. The policy has been described as an effective response to irrational hoarding and credited for a significant reduction in English grain-price variance. In contrast, I find support for an alternative profit maximizing model of storage. The occurrence of similar price stabilization in other European markets in the early seventeenth century is also demonstrated, suggesting English policy was not the cause.