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Re: hedging: good or bad?

Since ad hocery has come up twice now, I just want offer two
cheers for it. Remember that the one neoclassical critique of
non-neoclassical theories has been the charge of "ad hocery".
This has often been levelled at the incorporation of stylized
economic facts in to non-mainstream models, especially
macro models. Hurray for that! --Alan G. Isaac
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