Review by SJ

From a real review by SJ · Economics and Management · anonymised

The theory breaks down once the cheaper sellers run out of stock.¹ Reading Dani Rodrik's "Economics Rules" helped me understand this.² He compares economic models to maps.³

1. 1
   The theory does not break down here

   The theory does not "break down" when a seller runs out of stock. The single-price result assumes a seller can serve the whole market, so capacity is something the model assumes away, not something it gets wrong.

2. 2
   Understand what?

   You have not raised a question for the book to answer. It is also a very common book in economics statements, so what you take from it has to go beyond the obvious.

3. 3
   The maps analogy is the basic summary

   The maps analogy is the most basic summary point a casual reader with no economics background would take from the book.