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We have shown that firm size signed displacement data follow not only power-law in the large scale region but also the log-normal distribution in the middle scale one. In the analyses, we employ three databases: high-income data, high-sales data and positive-profits data of Japanese firms. It is...
Persistent link: https://www.econbiz.de/10005083342
The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical...
Persistent link: https://www.econbiz.de/10005083350
We propose a new method for estimating the power-law exponent of a firm size variable, such as annual sales. Our focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. As is well known, a firm size variable follows a power-law distribution...
Persistent link: https://www.econbiz.de/10009246868
economics and finance. The bulk of what has recently become known as 'econophysics' in broader circles draws its motivation from … the recent inception of new strands of research on this topic, both within econophysics and the neoclassical economics …
Persistent link: https://www.econbiz.de/10005566184