Price stabilization schemes for risky agricultural markets continue to attract interest. Applied welfare economics has offered some insights into who gains from stabilization (Turnovsky). Economic models, such as stochastic simulation and dynamic programming, have been used to evaluate the costs of alternative stock sizes and storage rules (Reutlinger: Burt, Koo, Dudley). A limitation of these analytical approaches is their difficulty in dealing with substitutes on the demand side and/or competition for scarce resources with other commodities in production. Stabilization interventions in any one market may have important spillover effects in other markets that are not captured in the usual single-commodity framework. In addition, even though the importance of producers' aversion to price and yield risks has been recognized as a determinant of supply (Just), the implied changes in average supply following price stabilization typically are ignored. Also, nearly all the analytical work on price stabilization has focused on a very narrow set of policy objectives, particularly the changes in producers' and consumers' surplus, producers' income, and storage costs. However, price stabilization may affect a wider range of policy issues when allowance is made for risk response and multimarket interactions. Price-endogenous mathematical programming models can take account of multiproduct relationships in supply and demand and can simulate the effects of risk-averse behavior at the farm level.