1. Al Hefrod 10-Mar-07 at 2:34 am

    In the explanation of general equilibrium, I would emphasize that a problem is that the ripples swing back: the changes in the other markets can have repercussions on the market for oil. This is what makes partial equilibrium insufficient.

  2. Steve Ziliak 10-Mar-07 at 9:36 am

    You are right: we should emphasize the potential economic importance of swings back. Thanks.

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