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Slate Money: The Debt Ceiling is Dumb

Slate Business

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The Importance of Price Stochasticity

In the age of Amazon, if you bought a widget on Amazon for $5 yesterday, you have no idea how much it's going to cost tomorrow. All of these prices move every day. They move up and they move down and that's largely stochastic, right? It's random. And this idea of prices being sticky and they move up a bit sometimes and they never really come down, I think that is gone. So even if like the stuff at Walmart gets cheaper, I think overall we're still level set at higher prices now.

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