Cosmology and the S matrix

We study conditions for the existence of asymptotic observables in cosmology. With the exception of de Sitter space, the thermal properties of accelerating universes permit arbitrarily long observations, and guarantee the production of accessible states of arbitrarily large entropy. This suggests that some asymptotic observables may exist, despite the presence of an event horizon. Comparison with decelerating universes shows surprising similarities: Neither type suffers from the limitations encountered in de Sitter space, such as thermalization and boundedness of entropy. However, we argue that no realistic cosmology permits the global observations associated with an S matrix.