Power Law Distribution of the Frequency of Demises of U . S Firms

@inproceedings{Cook2002PowerLD,
  title={Power Law Distribution of the Frequency of Demises of U . S Firms},
  author={W. Cook and Paul Ormerod},
  year={2002}
}
Both theoretical and applied economics have a great deal to say about many aspects of the firm, but the literature on the extinctions, or demises, of firms is very sparse. We use a publicly available data base covering some 6 million firms in the US and show that the underlying statistical distribution which characterises the frequency of firm demises the disappearances of firms as autonomous entities is closely approximated by a power law. The exponent of the power law is, intriguingly, close… CONTINUE READING

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