competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal in …

, equilibrium allocations under price uncertainty are efficient in this constrained sense. Arrow-Debreu equilibria turn out to be …

The parameterisation of energy and climate policies often depends on the technology, which is price-setting in …

demands to set price in the current period. A Taylor series expansion of the future reward function explicitly illustrates the …