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The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of…

综合金融 · 定量金融 2015-06-11 Joachim Kaldasch

We summarize a book under publication with his title written by the three present authors, on the theory of Zipf's law, and more generally of power laws, driven by the mechanism of proportional growth. The preprint is available upon request…

综合金融 · 定量金融 2014-08-26 A. Saichev , Y. Malevergne , D. Sornette

By employing exhaustive lists of large firms in European countries, we show that the upper-tail of the distribution of firm size can be fitted with a power-law (Pareto-Zipf law), and that in this region the growth rate of each firm is…

统计力学 · 物理学 2009-11-10 Yoshi Fujiwara , Corrado Di Guilmi , Hideaki Aoyama , Mauro Gallegati , Wataru Souma

In this paper we address the question of the size distribution of firms. To this aim, we use the Bloomberg database comprising multinational firms within the years 1995-2003, and analyze the data of the sales and the total assets of the…

物理与社会 · 物理学 2013-09-11 Taisei Kaizoji , Hiroshi Iyetomi , Yuichi Ikeda

We study the growth dynamics of the size of manufacturing firms considering competition and normal distribution of competency. We start with the fact that all components of the system struggle with each other for growth as happened in real…

统计力学 · 物理学 2009-11-07 Hari M. Gupta , Jose R. Campanha

Zipf's power-law distribution is a generic empirical statistical regularity found in many complex systems. However, rather than universality with a single power-law exponent (equal to 1 for Zipf's law), there are many reported deviations…

物理与社会 · 物理学 2015-03-18 Ryohei Hisano , Didier Sornette , Takayuki Mizuno

Detailed empirical studies of publicly traded business firms have established that the standard deviation of annual sales growth rates decreases with increasing firm sales as a power law, and that the sales growth distribution is…

物理与社会 · 物理学 2008-12-02 A. O. Schweiger , S. V. Buldyrev , H. E. Stanley

Publicly traded companies are fundamental units of contemporary economies and markets and are important mechanisms through which humans interact with their environments. Understanding the general properties that underlie the processes of…

物理与社会 · 物理学 2022-07-07 Jiang Zhang , Christopher P. Kempes , Marcus J. Hamilton , Ruyi Tao , Geoffrey B. West

We revisit granular models that represent the size of a firm as the sum of the sizes of multiple constituents or sub-units. Originally developed to address the unexpectedly slow reduction in volatility as firm size increases, these models…

综合经济学 · 经济学 2024-06-04 José Moran , Angelo Secchi , Jean-Philippe Bouchaud

Gradually Truncated Log-normal distribution - Size distribution of firms Abstract Many natural and economical phenomena are described through power law or log- normal distributions. In these cases, probability decreases very slowly with…

统计力学 · 物理学 2008-12-02 Hari M. Gupta , Jose R. Campanha

We introduce a solvable model of randomly growing systems consisting of many independent subunits. Scaling relations and growth rate distributions in the limit of infinite subunits are analysed theoretically. Various types of scaling…

物理与社会 · 物理学 2015-06-12 Misako Takayasu , Hayafumi Watanabe , Hideki Takayasu

We study size and growth distributions of products and business firms in the context of a given industry. Firm size growth is analyzed in terms of two basic mechanisms, i.e. the increase of the number of new elementary business units and…

凝聚态物理 · 物理学 2009-11-10 G. De Fabritiis , F. Pammolli , M. Riccaboni

We introduce a simple agent-based model which allows us to analyze three stylized facts: a fat-tailed size distribution of companies, a `tent-shaped' growth rate distribution, the scaling relation of the growth rate variance with firm size,…

综合金融 · 定量金融 2013-11-26 Cornelia Metzig , Mirta B. Gordon

This study explores the citation diversity in scholarly literature, analyzing different patterns of citations observed within different countries and academic disciplines. We examine citation distributions across top institutions within…

物理与社会 · 物理学 2025-08-26 Suchismita Banerjee , Abhik Ghosh , Banasri Basu

This paper studies the time-varying structure of the equity market with respect to market capitalization. First, we analyze the distribution of the 100 largest companies' market capitalizations over time, in terms of inequality,…

数理金融 · 定量金融 2025-02-21 Nick James , Max Menzies

We report the proof that the extension of Gibrat's law in the middle scale region is unique and the probability distribution function (pdf) is also uniquely derived from the extended Gibrat's law and the law of detailed balance. In the…

物理与社会 · 物理学 2009-11-13 Atushi Ishikawa

We analyze a database comprising quarterly sales of 55624 pharmaceutical products commercialized by 3939 pharmaceutical firms in the period 1992--2001. We study the probability density function (PDF) of growth in firms and product sales and…

We introduce and analyze a linear kinetic model that describes the evolution of the probability density of the number of firms in a society, in which the microscopic rate of change obeys to the so-called law of proportional effect proposed…

综合金融 · 定量金融 2016-07-20 Giuseppe Toscani

In the standard equilibrium and/or arbitrage pricing framework, the value of any asset is uniquely specified from the belief that only the systematic risks need to be remunerated by the market. Here, we show that, even for arbitrary large…

物理与社会 · 物理学 2008-12-02 Y. Malevergne , D. Sornette

Taylor's law, also known as fluctuation scaling in physics and the power-law variance function in statistics, is an empirical pattern widely observed across fields including ecology, physics, finance, and epidemiology. It states that the…

统计理论 · 数学 2025-10-13 Pok Him Cheng , Joel E. Cohen , Hok Kan Ling , Sheung Chi Phillip Yam
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