People tend to exalt neo-classical micro-economic models of the markets inconsistently,

I'm likely to be guilty as charged there. I have both a Bachelor's and Master's degree in Business Administration, which included a pretty thorough indoctrination in neo-classical micro econ. I can draw Xs on the wall with the best of them. (Well, maybe not the best of them, but far better than the average person and on par with those similarly trained.)

However, I don't normally try to argue against a neo-classical explanation. If it supports my position, I'll use it. If it doesn't, I'll use some other argument in favor of my position. Kind of like the stereotypical attorney. When the facts are on your side, pound the facts. When the law is on your side pound the law. (We'll ignore the table pounding that is the usual third option out of politeness - I'm not in accountant mode at the moment. ;-) )

--Peter