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Volume 15, Issue 1
1 February 1993
This article was originally published in
Studies in Economic Analysis
Studies in Economic Analysis Cover Image for Volume 15, Issue 1
Review Article| February 01 1993

THE EVOLUTION OF INDUSTRIAL CONCENTRATION DUE TO LUCK: AN EXTENSION

Demetrius Kantarelis
Demetrius Kantarelis
Department of Economics and Foreign Affairs, Assumption College, Worcester, MA 01615
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Author & Article Information
Publisher: Emerald Publishing
Online ISSN: 2977-7615
Print ISSN: 0198-8263
© MCB UP Limited
1993
Studies in Economic Analysis (1993) 15 (1): 71–88.
https://doi.org/10.1108/eb028709

Gibrat's Law of Proportionate Effect is reconsidered by assuming a process of stochastic growth and decline of firms in an industry. With the assistance of computer simulations it is shown that such a process leads to an even more skewed size distribution of firms than a random process of growth only.

© MCB UP Limited
1993
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