From the axiom of the unrestricted repeatability of all experiments, Bondi and Gold (also Hoyle) argued that the universe is in a stable, selfperpetuating equilibrium state. Their reasoning extends the usual cosmological principle to the perfect cosmological principle in which the universe looks the same from any location at any time. By itself, the perfect cosmological principle predicts the u...

This paper reports a laboratory experiment to study pricing and advertising behavior with costly buyer search. Sellers simultaneously post prices and may incur a cost to advertise this price. In the unique symmetric equilibrium, sellers either charge a high unadvertised price or randomize in an interval of lower advertised prices. Increases in search or advertising costs raise equilibrium price...

An equilibrium solution of an N-person game is said to be globally stable (or, simply, stable) with respect to an a priori fixed ordering of computation of policies if, regardless of what initial policies the players start with, the generated algorithm converges to that equilibrium. At each step of such an iteration, each player determines his policy (or action, if the underlying game is static...

The search for the statistical mechanical underpinning of thermodynamic irreversibility has so far focussed on spontaneous approach to equilibrium. But this is what Brown and Uffink have dubbed ‘minus first law’ thermodynamics. In contrast, second law tells us that certain interventions equilibrium states render initial state ‘irrecoverable’. article, I discuss unusual nature processes in therm...