Re: hedging: good or bad?

["Alan G. Isaac" <AISAAC@xxxxxxxxxxxx>]

As I observe the difficulties that even the Fed has in
offering a credible reservation demand for dollars, it
appears to me that size of the agent relative to the market
is in fact a key determinant of credible posted prices.
--Alan G. Isaac

On Tue, 18 Apr 1995 13:33:06 -0600 <pdavidso@xxxxxxxxxxxxxxxxxx> said:
>
>But Alan Isaac, it still requires Wicksteedian reservation demand to make
>a posted price stick--- It has nothing to do with degree of monopoly.
>Even in competitive market if there is reservation demand there can be
>fixed prices. Paul D.  Reservation demand is not ad hoc; just saying
>posted prices or menu costs is.