Families of K3 surfaces. J. Algebraic Geom. 7 (1998), no. 1, 183-193. Richard E. Borcherds Mathematics department, Evans Hall, 3840, UC Berkeley, CA 94720-3840 D.P.M.M.S., 16 Mill Lane, Cambridge CB2 1SB, UK Ludmil Katzarkov M.S.R.I., 1000 Centennial Drive, Berkeley, CA 94720 Department of Mathematics, UC Irvine, Irvine, CA 92697-3875 Tony Pantev Department of Mathematics, MIT, Cambridge, MA 02139 N. I. Shepherd-Barron D.P.M.M.S., 16 Mill Lane, Cambridge CB2 1SB, UK Introduction. We will prove the following theorem and give some examples to show that most of the conditions in it are necessary. Recall that a family X -> B of varieties over a base space B is called isotrivial if there is an \'etale covering [B\tilde] -> B such that X\times_B[B\tilde] is a trivial family over [B\tilde]. Theorem 1.1. Any complete family of minimal K\"ahler surfaces of Kodaira dimension 0 and constant Picard number is isotrivial. This is a generalization to surfaces of the well known fact that any complete family of complex elliptic curves is isotrivial, because any complex elliptic curve is automatically minimal, K\"ahler, of Kodaira dimension 0, and has Picard number 1. Roughly speaking, it gives some cases when moduli spaces of surfaces contain no complete subvarieties.