Hendricks, Darryll; Patel, Jayendu; Zeckhauser, Richard - In: The Review of Economics and Statistics 79 (1997) 2, pp. 161-166
Performance may enhance survival probability. When it does, the induced lack of randomness challenges robust and unbiased inference. If survivors are sorted into two groups based on past performance, spurious persistence has been demonstrated if variance in performance is heterogeneous. However,...