Initial value problem in string-inspired nonlocal field theory

We consider a nonlocal scalar field theory inspired by the tachyon action in open string field theory. The Lorentz-covariant action is characterized by a parameter $\xi^2$ that quantifies the amount of nonlocality. Restricting to purely time-dependent configurations, we show that a field redefinition perturbative in $\xi^2$ reduces the action to a local two-derivative theory with a $\xi^2$-dependent potential. This picture is supported by evidence that the redefinition maps the wildly oscillating rolling tachyon solutions of the nonlocal theory to conventional rolling in the new scalar potential. For general field configurations we exhibit an obstruction to a local Lorentz-covariant formulation, but we can still achieve a formulation local in time, as well as a light-cone formulation. These constructions provide an initial value formulation and a Hamiltonian. Their causality is consistent with a lack of superluminal behavior in the nonlocal theory.