arXiv subjects

Michal Fabinger

Publications and source records attributed to Michal Fabinger.

10 recordsLinked to original sources

arXiv2022

Prospecting a Possible Quadratic Wormhole Between Quantum Mechanics and Plurality

We illustrate some formal symmetries between Quadratic Funding (Buterin et al., 2019), a mechanism for the (approximately optimal) determination of public good funding levels, and the Born (1926) rule in Quantum Mechanics, which converts the wave representation into a probability distribution, through a bridging formulation we call "Quantum Quartic Finance". We suggest further directions for investigating the practical utility of these symmetries. We discuss potential interpretations in greater depth in a companion blog post.

econ.TH↗

arXiv2017

Multi-Dimensional Pass-Through and Welfare Measures under Imperfect Competition

This paper provides a comprehensive analysis of welfare measures when oligopolistic firms face multiple policy interventions and external changes under general forms of market demands, production costs, and imperfect competition. We present our results in terms of two welfare measures, namely, marginal cost of public funds and incidence, in relation to multi-dimensional pass-through. Our arguments are best understood with two-dimensional taxation where homogeneous firms face unit and ad valorem taxes. The first part of the paper studies this leading case. We show, e.g., that there exists a simple and empirically relevant set of sufficient statistics for the marginal cost of public funds, namely unit tax and ad valorem pass-through and industry demand elasticity. We then specialize our general setting to the case of price or quantity competition and show how the marginal cost of public funds and the pass-through are expressed using elasticities and curvatures of regular and inverse demands. Based on the results of the leading case, the second part of the paper presents a generalization with the tax revenue function specified as a general function parameterized by a vector of multi-dimensional tax parameters. We then argue that our results are carried over to the case of heterogeneous firms and other extensions.

econ.GN↗

arXiv2016

Functional Forms for Tractable Economic Models and the Cost Structure of International Trade

We present functional forms allowing a broader range of analytic solutions to common economic equilibrium problems. These can increase the realism of pen-and-paper solutions or speed large-scale numerical solutions as computational subroutines. We use the latter approach to build a tractable heterogeneous firm model of international trade accommodating economies of scale in export and diseconomies of scale in production, providing a natural, unified solution to several puzzles concerning trade costs. We briefly highlight applications in a range of other fields. Our method of generating analytic solutions is a discrete approximation to a logarithmically modified Laplace transform of equilibrium conditions.

econ.GN↗

arXiv2003

D-Sitter Space: Causal Structure, Thermodynamics, and Entropy

We study the entropy of concrete de Sitter flux compactifications and deformations of them containing D-brane domain walls. We determine the relevant causal and thermodynamic properties of these "D-Sitter" deformations of de Sitter spacetimes. We find a string scale correspondence point at which the entropy localized on the D-branes (and measured by probes sent from an observer in the middle of the bubble) scales the same with large flux quantum numbers as the entropy of the original de Sitter space, and at which Bousso's bound is saturated by the D-brane degrees of freedom (up to order one coefficients) for an infinite range of times. From the geometry of a static patch of D-Sitter space and from basic relations in flux compactifications, we find support for the possibility of a low energy open string description of the static patch of de Sitter space.

hep-th↗

arXiv2003

On Smooth Time-Dependent Orbifolds and Null Singularities

We study string theory on a non-singular time-dependent orbifold of flat space, known as the `null-brane'. The orbifold group, which involves only space-like identifications, is obtained by a combined action of a null Lorentz transformation and a constant shift in an extra direction. In the limit where the shift goes to zero, the geometry of this orbifold reproduces an orbifold with a light-like singularity, which was recently studied by Liu, Moore and Seiberg (hep-th/0204168). We find that the backreaction on the geometry due to a test particle can be made arbitrarily small, and that there are scattering processes which can be studied in the approximation of a constant background. We quantize strings on this orbifold and calculate the torus partition function. We construct a basis of states on the smooth orbifold whose tree level string interactions are nonsingular. We discuss the existence of physical modes in the singular orbifold which resolve the singularity. We also describe another way of making the singular orbifold smooth which involves a sandwich pp-wave.

hep-th↗

arXiv2002

Stringy Resolutions of Null Singularities

We study string theory in supersymmetric time-dependent backgrounds. In the framework of general relativity, supersymmetry for spacetimes without flux implies the existence of a covariantly constant null vector, and a relatively simple form of the metric. As a result, the local nature of any such spacetime can be easily understood. We show that we can view any such geometry as a sequence of solutions to lower-dimensional Euclidean gravity. If we choose the lower-dimensional solutions to degenerate at some light-cone time, we obtain null singularities, which may be thought of as generalizations of the parabolic orbifold singularity. We find that in string theory, many such null singularities get repaired by $α'$-corrections - in particular, by worldsheet instantons. As a consequence, the resulting string theory solutions do not suffer from any instability. Even though the CFT description of these solutions is not always valid, they can still be well understood after taking the effects of light D-branes into account; the breakdown of the worldsheet conformal field theory is purely gauge-theoretic, not involving strong gravitational effects.

hep-th↗

arXiv2002

Higher-Dimensional Quantum Hall Effect in String Theory

We construct a string theory realization of the 4+1d quantum Hall effect recently discovered by Zhang and Hu. The string theory picture contains coincident D4-branes forming an S^4 and having D0-branes (i.e. instantons) in their world-volume. The charged particles are modelled as string ends. Their configuration space approaches in the large n limit a CP^3, which is an S^2 fibration over S^4, the extra S^2 being made out of the Chan-Paton degrees of freedom. An alternative matrix theory description involves the fuzzy four-sphere. We also find that there is a hierarchy of quantum Hall effects in odd-dimensional spacetimes, generalizing the known cases in 2+1d and 4+1d.

hep-th↗

arXiv2001

Deconstructing Noncommutativity with a Giant Fuzzy Moose

We argue that the worldvolume theories of D-branes probing orbifolds with discrete torsion develop, in the large quiver limit, new non-commutative directions. This provides an explicit `deconstruction' of a wide class of noncommutative theories. This also provides insight into the physical meaning of discrete torsion and its relation to the T-dual B field. We demonstrate that the strict large quiver limit reproduces the matrix theory construction of higher-dimensional D-branes, and argue that finite `fuzzy moose' theories provide novel regularizations of non-commutative theories and explicit string theory realizations of gauge theories on fuzzy tori. We also comment briefly on the relation to NCOS, (2,0) and little string theories.

hep-th↗

arXiv2001

Virtual Reality in the World of Holograms

If we assume that the initial conditions for the universe were such that there was no volume-extensive entropy `at the beginning of time' (which is true in Linde's chaotic inflation), we can formulate a covariant holographic bound on the entanglement entropy inside or outside closed space-like surfaces. This bound should hold even for regions where the coarse-grained entropy exceeds the surface area. We find that Bousso's bound gives strong support for this conjecture. We also present a speculative interpretation of the entropy bound, according to which any observer of interest can be surrounded by a holographic screen, providing a non-redundant description of the rest of the universe.

hep-th↗

arXiv2000

Casimir Effect Between World-Branes in Heterotic M-Theory

We study a non-supersymmetric $E_8\times\bar E_8$ compactification of M-theory on $S^1/Z_2$, related to the supersymmetric $E_8\times E_8$ theory by a chirality flip at one of the boundaries. This system represents an M-theory analog of the D-brane anti-D-brane systems of string theory. Alternatively, this compactification can be viewed as a model of supersymmetry breaking in the ``brane-world'' approach to phenomenology. We calculate the Casimir energy of the system at large separations, and show that there is an attractive Casimir force between the $E_8$ and $\bar E_8$ boundary. We predict that a tachyonic instability develops at separations of order the Planck scale, and discuss the possibility that the M-theory fivebrane might appear as a topological defect supported by the $E_8\times\bar E_8$ system. Finally, we analyze the eventual fate of the configuration, in the semiclassical approximation at large separations: the two ends of the world annihilate by nucleating wormholes between the two boundaries.

hep-th↗