[OPE-L:7062] [OPE-L:559] Re: Re: Re: Law of one price and equilibrium

Gerald Levy (glevy@pratt.edu)
Sun, 28 Feb 1999 19:27:55 -0500 (EST)

Alejandro Valle wrote in [OPE-L:533]:

> I think that Lefteris and Jerry are right in some way. There are
> empirical evidence against LOP supporting Jerry claims. But at the same
> time prices can no be quite different for the same use value.

Perhaps we could think of product differentiation as modifying the use
values such that almost identical commodities have different use values?

In solidarity, Jerry