From: ajit sinha (sinha_a99@YAHOO.COM)
Date: Tue Sep 11 2007 - 07:00:07 EDT
--- Ian Wright <wrighti@ACM.ORG> wrote: > > We work out all such possible market mechanisms > > Ajit, I have not read the paper but two questions > immediately come to mind: > > 1. How is it possible to theorize "all such > possible" adjustment mechanisms? _____________________ May be we should have written "price induced" market mechanism, But I thought "market mechanism" meant "price induced". I understand that your question is the general one, i.e. how could we claim that these are the "all"? Here again, what is implicit is "reasonable". Read the paper, if you find that there are other reasonable market mechanisms, then let me know, we would either work them out or delete "all", and add a footnote to acknowledge the other reasonable mechanisms. ________________________ > > 2. What is the fundamental reason for the lack of > asymptotic stability? ____________________ I think it is basically complexity. The system turns out to behave this way. Cheers, ajit sinha ____________________________________________________________________________________ Be a better Heartthrob. Get better relationship answers from someone who knows. Yahoo! Answers - Check it out. http://answers.yahoo.com/dir/?link=list&sid=396545433
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