Related papers: 3 Lessons from Hyperinflationary Periods
I will discuss the development of inflationary theory and its present status, as well as some recent attempts to suggest an alternative to inflation. In particular, I will argue that the ekpyrotic scenario in its original form does not…
A consumer who wants to consume a good in a particular period may nevertheless attempt to buy it earlier if he is concerned that in delaying he would find the good already sold. This paper considers a model in which the good may be offered…
Cosmological inflation, if it occurred, radically alters the picture of the `big bang', which would merely point to reheating at the end of inflation. Moreover, this reheating may be only local, so that inflation continues elsewhere and…
Both inflation and unemployment inflict social losses. When a tradeoff exists between the two, what would be the best combination of inflation and unemployment? A well known approach in economics to address this question consists to write…
Causality is a seminal concept in science: Any research discipline, from sociology and medicine to physics and chemistry, aims at understanding the causes that could explain the correlations observed among some measured variables. While…
We examine the case of items with a limited shelf-life where storing an item (before consumption) may carry a cost to a buyer (or distributor). For example, eggs, milk, or Groupon coupons have a fixed expiry date, and seasonal goods can…
Modern physics has unlocked a number of mysteries regarding the early Universe, such as the baryogenesis, the unification of the strong and electroweak forces and the nucleosynthesis. However, understanding the very early Universe, close to…
Inflationary theory is already 20 years old, and it is impossible to describe all of its versions and implications in a short talk. I will concentrate on several subjects which I believe to be most important. First of all, I will give a…
We will compare three types of prices, namely, rational (hedging) prices, geometric (growth rate) prices, and martingale (measure) prices. We will show that rational prices in the complete market theory are sometimes contrary to common…
Empirical evidence suggests that there is little to no correlation between the rate of inflation and the size of price change. Economists have hitherto taken this to mean that monetary shocks do not generate much deviation in relative…
In this paper we consider inflation as a probe of new physics near the string or Planck scale. We discuss how new physics can be captured by the choice of vacuum, and how this leads to modifications of the primordial spectrum as well as the…
We develop a market model in which products generate state-dependent potential hidden charges. Firms differ in their ability to realize this potential. Unlike firms, consumers do not observe the state. They try to infer hidden charges from…
With negative growth in real production in many countries and debt levels which become an increasing burden on developed societies, the calls for a change in economic policy and even the monetary system become louder and increasingly…
This study explores the prediction of high-frequency price changes using deep learning models. Although state-of-the-art methods perform well, their complexity impedes the understanding of successful predictions. We found that an…
How well can we constrain the initial quantum state of metric perturbations sourced during inflation? We exhibit an interesting new class of quantum states that entangle the scalar metric perturbations {\zeta} with other fields such as…
We provide a comprehensive numerical study of the Emergent Cyclic Inflation scenario. This is a scenario where instead of traditional monotonic slow roll inflation, the universe expands over numerous short asymmetric cycles due to the…
Prices in financial markets exhibit extreme jumps far more often than can be accounted for by external news. Further, magnitudes of price changes are correlated over long times. These so called stylized facts are quantified by scaling laws…
In a previous paper we proposed a new approach to the beginning of inflation -- a lingering universe. The universe begins in a lingering state with a nearly vanishing Hubble parameter. This calls into question the absolute age of the…
We explore heterogeneous prices as a source of heterogeneous or stochastic demand. Heterogeneous prices could arise either because there is actual price variation among consumers or because consumers (mis)perceive prices differently. Our…
The aim of this research is to give a simple framework to evaluate/quantize the "transparency" of a firm. We assume that the process of the firm value is only observable once in a while but is strongly correlated with the stock price which…