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04/13/2009

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supra vaider

He is a good friend that speaks well of us behind our backs.

red bottom

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Trading on line

"I want to push back at what I see as a hidden premise in this post, which is that rationality is required for an "equilibrium" in the form of a market price to be achieved. We have known at least since Schelling published The Strategy of Conflict that it is not rationality, but symmetry that accounts for equilibrium outcomes -- symmetries and broken symmetries in expectations of market actors drive transactions in ways that rational expectations alone don't." Your pretty much summed everything up pretty nicely.

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