We ask why, in many circumstances and many environments, decision-makers choose to act on a time-regular basis (e.g. adjust every six weeks) or on a stateregular basis (e.g. set prices ending in a 9), even though such an approach appears suboptimal. The paper attributes regular behaviour to...

We ask why, in many circumstances and many environments, decision-makers choose to act on a time-regular basis (e.g. adjust every six weeks) or on a state-regular basis (e.g. set prices ending in a 9), even though such an approach appears suboptimal. The paper attributes regular behaviour to...

Austrians widely expected prices to fall on account of EU accession, participation in the Single Market and the resulting stepped-up competition. In hindsight, this assessment was partly correct. In the course of the decade from 1995 to 2004, the inflation rate dropped by half to 1.5% per annum...