Does State-Dependent Pricing Imply Coordination Failure?

Does Libertarianism Imply the Welfare State?

Information-Constrained State-Dependent Pricing∗

I present a generalization of the standard (full-information) model of statedependent pricing in which decisions about when to review a firm’s existing price must be made on the basis of imprecise awareness of current market conditions. The imperfect information is endogenized using a variant of the theory of “rational inattention” proposed by Sims (1998, 2003, 2006). This results in a one-para...

Well-defined steady-state response does not imply CICS

Systems for which each constant input gives rise to a unique globally attracting equilibrium are considered. A counterexample is provided to show that inputs which are only asymptotically constant may not result in states converging to equilibria (failure of the converging-input converging state, or “CICS” property).

Does ought imply can?

Most philosophers believe that a person can have an obligation only insofar as she is able to fulfil it, a principle generally referred to as "Ought Implies Can". Arguably, this principle reflects something basic about the ordinary concept of obligation. However, in a paper published recently in this journal, Wesley Buckwalter and John Turri presented evidence for the conclusion that ordinary p...

Does intelligence imply contradiction?

Contradiction is often seen as a defect of intelligent systems and a dangerous limitation on efficiency. In this paper we raise the question of whether, on the contrary, it could be considered a key tool in increasing intelligence in biological structures. A possible way of answering this question in a mathematical context is shown, formulating a proposition that suggests a link between intelli...