Publikation von Dr. Philipp Mundt und Dr. Ilfan Oh in "Economics Letters" akzeptiert!

Der Beitrag "Asymmetric competition, risk, and return distribution“ von Dr. Philipp Mundt und Dr. Ilfan Oh, welcher kürzlich in der volkswirtschaftlichen BERG working paper series der Universit?t Bamberg erschienen ist, wurde nun zur Ver?ffentlichung in der Zeitschrift "Economics Letters" akzeptiert.

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Abstract:

We propose a parsimonious statistical model of firm competition where structural differences in the strength of competitive pressure and the magnitude of return fluctuations above and below the system-wide benchmark translate into a skewed Subbotin or asymmetric exponential power (AEP) distribution of returns to capital. Empirical evidence from US data illustrates that the AEP distribution compares favorably to popular alternative models such as the symmetric or asymmetric Laplace density in terms of goodness of fit when entry
and exit dynamics of markets are taken into account.