The Exponential Age Distribution and the Pareto Firm Size Distribution
Tóm tắt
Recent work drawing on data for large and small firms has shown a Pareto distribution of firm size. We begin by showing that the firm age distribution is well approximated by an exponential distribution. We then mix a Gibrat-type growth process among incumbents with an exponential distribution of firm’s age, to obtain the empirically-observed Pareto distribution.
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