Gauge theoryIn physics, a gauge theory is a field theory in which the Lagrangian is invariant under local transformations according to certain smooth families of operations (Lie groups). The term gauge refers to any specific mathematical formalism to regulate redundant degrees of freedom in the Lagrangian of a physical system. The transformations between possible gauges, called gauge transformations, form a Lie group—referred to as the symmetry group or the gauge group of the theory. Associated with any Lie group is the Lie algebra of group generators.
Quantum gravityQuantum gravity (QG) is a field of theoretical physics that seeks to describe gravity according to the principles of quantum mechanics. It deals with environments in which neither gravitational nor quantum effects can be ignored, such as in the vicinity of black holes or similar compact astrophysical objects, such as neutron stars as well as in the early stages of the universe moments after the Big Bang Three of the four fundamental forces of nature are described within the framework of quantum mechanics and quantum field theory: the electromagnetic interaction, the strong force, and the weak force; this leaves gravity as the only interaction that has not been fully accommodated.
Equilibrium constantThe equilibrium constant of a chemical reaction is the value of its reaction quotient at chemical equilibrium, a state approached by a dynamic chemical system after sufficient time has elapsed at which its composition has no measurable tendency towards further change. For a given set of reaction conditions, the equilibrium constant is independent of the initial analytical concentrations of the reactant and product species in the mixture.
Stochastic processIn probability theory and related fields, a stochastic (stəˈkæstɪk) or random process is a mathematical object usually defined as a sequence of random variables, where the index of the sequence has the interpretation of time. Stochastic processes are widely used as mathematical models of systems and phenomena that appear to vary in a random manner. Examples include the growth of a bacterial population, an electrical current fluctuating due to thermal noise, or the movement of a gas molecule.
Monetary inflationMonetary inflation is a sustained increase in the money supply of a country (or currency area). Depending on many factors, especially public expectations, the fundamental state and development of the economy, and the transmission mechanism, it is likely to result in price inflation, which is usually just called "inflation", which is a rise in the general level of prices of goods and services.Michael F. Bryan, On the Origin and Evolution of the Word "Inflation", clevelandfed.
Quantum field theoryIn theoretical physics, quantum field theory (QFT) is a theoretical framework that combines classical field theory, special relativity, and quantum mechanics. QFT is used in particle physics to construct physical models of subatomic particles and in condensed matter physics to construct models of quasiparticles. QFT treats particles as excited states (also called quanta) of their underlying quantum fields, which are more fundamental than the particles.
Gauge fixingIn the physics of gauge theories, gauge fixing (also called choosing a gauge) denotes a mathematical procedure for coping with redundant degrees of freedom in field variables. By definition, a gauge theory represents each physically distinct configuration of the system as an equivalence class of detailed local field configurations. Any two detailed configurations in the same equivalence class are related by a gauge transformation, equivalent to a shear along unphysical axes in configuration space.
Asset price inflationAsset price inflation is the economic phenomenon whereby the price of assets rise and become inflated. A common reason for higher asset prices is low interest rates. When interest rates are low, investors and savers cannot make easy returns using low-risk methods such as government bonds or savings accounts. To still get a return on their money, investors instead have to buy up other assets such as stocks and real estate, thereby bidding up the price and creating asset price inflation.
Demand-pull inflationDemand-pull inflation occurs to arise when aggregate demand in an economy is more than aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve. This is commonly described as "too much money chasing too few goods". More accurately, it should be described as involving "too much money spent chasing too few goods", since only money that is spent on goods and services can cause inflation.
Eternal inflationEternal inflation is a hypothetical inflationary universe model, which is itself an outgrowth or extension of the Big Bang theory. According to eternal inflation, the inflationary phase of the universe's expansion lasts forever throughout most of the universe. Because the regions expand exponentially rapidly, most of the volume of the universe at any given time is inflating. Eternal inflation, therefore, produces a hypothetically infinite multiverse, in which only an insignificant fractal volume ends inflation.
Quantum vacuum stateIn quantum field theory, the quantum vacuum state (also called the quantum vacuum or vacuum state) is the quantum state with the lowest possible energy. Generally, it contains no physical particles. The term zero-point field is sometimes used as a synonym for the vacuum state of a quantized field which is completely individual. According to present-day understanding of what is called the vacuum state or the quantum vacuum, it is "by no means a simple empty space".
Non-equilibrium thermodynamicsNon-equilibrium thermodynamics is a branch of thermodynamics that deals with physical systems that are not in thermodynamic equilibrium but can be described in terms of macroscopic quantities (non-equilibrium state variables) that represent an extrapolation of the variables used to specify the system in thermodynamic equilibrium. Non-equilibrium thermodynamics is concerned with transport processes and with the rates of chemical reactions.
