June 10, 1997


Dr. Yves Balasko
Universite de Geneve
Departement d'Econometrie
102, Bd Carl-vogt
1211 Geneve 4, Switzerland


Dear Dr. Balasko:

     Enclosed is a revision of our paper #3221, now titled "On the 
Probability fo Chaos in Large Dynamical Systems: A Monte Carlo Study" 
for the Journal of Economic Dynamics and Control. 

     We concur with the reviewer that our claims of the relevance of 
this work to economic dynamics may have been somewhat overstated.  
Accordingly, we have removed the offending words in the introduction 
and oriented the paper more toward non-experts in neural networks.  The 
title change should further indicate the emphasis of the revised paper.

     We appreciate the comments of the reviewer and feel confident that 
the paper is now suitable for publication without further delay.  Thank 
you for your offer to expedite the publishing process.

                                     Sincerely,




                                     W. Davis Dechert
                                     Professor of Economics
enc.