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A theoretical model is proposed for decay of the cosmological constant, allowing a natural interpretation that the cosmological constant is small at present simply because our Universe is old. The model can be made consistent with inflation, the observed time nonvariability of the gravitational constant, as well as evidence for the standard cosmology. The crucial ingredients are an extended theory of a scalar field and a careful analysis of conformal transformations.
Fujii et al. (Sun,) studied this question.
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