Related papers: 3 Lessons from Hyperinflationary Periods
The thing about inflation is that it ravages your income if you don not keep up with it and you do not know when it will stop.
Price perception by consumers represents a challenge to the ability of a business to correctly and profitably price and sell their products or services in a given market and any new target market. Complicating the perception of prices is…
As a firm varies the price of a product, consumers exhibit reference effects, making purchase decisions based not only on the prevailing price but also the product's price history. We consider the problem of learning such behavioral…
Inflation is known to be generically eternal to the future: the false vacuum is thermalized in some regions of space, while inflation continues in other regions. Here, we address the question of whether inflation can also be eternal to the…
Monetary inflation is a sustained increase in the money supply than can result in price inflation, which is a rise in the general level of prices of goods and services. The objectives of this paper were to develop economic models to (1)…
Variation of constants in the very early universe can generate inflation. We consider a scenario where the strong coupling constant was changing in time and where the gluon condensate underwent a phase transition ending the inflation.
The world is changing at an ever-increasing pace. And it has changed in a much more fundamental way than one would think, primarily because it has become more connected and interdependent than in our entire history. Every new product, every…
This paper proposes a theory of pricing premised upon the assumptions that customers dislike unfair prices---those marked up steeply over cost---and that firms take these concerns into account when setting prices. Since they do not observe…
Inflationary models are usually UV sensitive. Several mechanism have been proposed to protect the necessary features of the potential, and most notably (softly broken) global symmetries as shift-symmetry. We show that, even in presence of…
I review various aspects of techniques for reconstructing the potential of the inflaton field from observations, with special emphasis on difficulties which might arise. While my view is that if inflation is to prove viable then most likely…
At the outbreak of the recent inflation surge, the public's attention to inflation was low but increased quickly once inflation started to rise. In this paper, I quantify when and by how much the public's attention to inflation changes, and…
We develop a medium-size semi-structural time series model of inflation dynamics that is consistent with the view - often expressed by central banks - that three components are important: a trend anchored by long-run expectations, a…
Studies of micro-level price datasets find more frequent small price increases than decreases, which can be explained by consumer inattention because time-constrained shoppers might ignore small price changes. Recent empirical studies of…
I show that firms price almost competitively and consumers can infer product quality from prices in markets where firms differ in quality and production cost, and learning prices is costly. Bankruptcy risk or regulation links higher quality…
The basic workings of inflationary models are summarized, along with the arguments that strongly suggest that our universe is the product of inflation. The mechanisms that lead to eternal inflation in both new and chaotic models are…
Using the latest observational data, we constrain the inflationary dynamics and the subsequent reheating epoch. Predictions for both phases can be significantly improved by employing numerically computed results compared to the slow-roll…
In complex systems, many different parts interact in non-obvious ways. Traditional research focuses on a few or a single aspect of the problem so as to analyze it with the tools available. To get a better insight of phenomena that emerge…
There is very strong circumstantial evidence that there was an inflationary epoch very early in the history of the universe. In this lecture I will describe how we might be able to piece together some understanding of the dynamics during…
The discovery of the string theory landscape has recently brought attention to the eternal nature of inflation. In contrast to the common belief that eternal inflation may be a generic feature of most inflationary models, in this note we…
Eternal inflation is a seemingly generic consequence of theories that give rise to accelerated expansion of the universe and possess multiple vacuum states. Making predictions in an eternally inflating universe is notoriously difficult…