This clearly written volume provides an accessible examination of the nature of disequilibrium models. Srivastava and Rao contend that existing software packages can be easily used to implement some of the relatively simple methods. This study furnishes a substantial grounding in the economics and econometrics of the disequilibrium models by reviewing the Walrasian general equilibrium theory and by comparing the two genuine alternative frameworks for analyzing economic phenomena. Srivastava and Rao demonstrate that while both frameworks share a common set of basic assumptions about the...