> From: "Rosser Jr, John Barkley" <[EMAIL PROTECTED]> > Doug's example of the stock market (and there are lots > of other markets where dynamically we see people buying > more of something when the price rises and selling when it > falls, e.g. real estate, antiques, stamps, baseball cards, > currencies, etc.) is simply a matter of the demand curve > shifting outward with a change in the expectation regarding > future prices. It could coinide easily with the static > demand curve sloping downward, which is defined in ceteris > paribus terms with expectations being one of the ceteris > being held paribus. Now, do you also hold 'tastes' constant as long as income raises for the cases of Irish potatoes or kerosene, or...? Rosser's point is certainly valid,... heruistically speaking. The clue here is 'until where' we push the 'ceteris paribus' condition in a de facto continuosly moving market environment... Salud, Alex > Alex Izurieta E-mail: [EMAIL PROTECTED] Institute of Social Studies P.O. Box 29776 2502 LT The Hague Tel. 31-70-4260480 Fax. 31-70-4260755
