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Point 1 is all wrong — NK models are all about sticky prices, so what's that about "instantaneous adjustments"?
The human body depends on myriad feedback mechanisms ensuring instantaneous adjustments to cell activity, for the correction of imbalances in temperature, hormone levels and other functions essential for life.
The user interface permits straightforward and instantaneous adjustments of the generated spot pattern, greatly simplifying the alignment of detectors as discussed below.
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In practice, because of adjustment costs we would not expect instantaneous adjustment, so we also consider dynamic versions of (8).
A posted price is not optimal when demand is uncertain and when it cannot be responded to with an instantaneous adjustment of prices (Klemperer and Meyer 1989).
A distinction is made between short-run integration, defined as restrictive target of instantaneous adjustment corresponding to the market efficiency hypothesis (Malkiel 1987), and long-run integration, defined as a less restrictive target of price integration in the long run (Lutz 1994).
Due to the principle of economics, to describe the long-run behavior of the economy, the neoclassical growth model is based on the two assumptions: one is the full-employment of labor and capital and the other is instantaneous adjustment in the output market.
After this instantaneous adjustment, the remaining lineages are in separate individuals and coalesce with probability O(1/ N).
Thus, the instantaneous adjustment of the sample involves both the movement of lineages from within to between individuals and coalescence events.
For finite N, more coalescence events are possible if gametes originated from the same parent, but this has probability O(1/ N) and thus does not happen in the instantaneous adjustment.
Similarly to the process for n = 2, there is an instantaneous adjustment of the sample to a state in which all lineages are in separate individuals (here state 5), independent of the starting state.
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