Show simple item record

dc.contributor.authorFrey, Nathan C.en_US
dc.contributor.authorMatin, Sakiben_US
dc.contributor.authorStanley, H. Eugeneen_US
dc.contributor.authorSalinger, Michael A.en_US
dc.date2018-12-01
dc.date.accessioned2020-02-27T20:24:07Z
dc.date.available2020-02-27T20:24:07Z
dc.date.issued2019-01-24
dc.identifierhttp://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000456554600152&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=6e74115fe3da270499c3d65c9b17d654
dc.identifier.citationNathan C Frey, Sakib Matin, H Eugene Stanley, Michael A Salinger. 2019. "Universal Fluctuations in Growth Dynamics of Economic Systems." Scientific Reports, Volume 9. https://doi.org/10.1038/s41598-018-38088-z
dc.identifier.issn2045-2322
dc.identifier.urihttps://hdl.handle.net/2144/39575
dc.description.abstractThe growth of business firms is an example of a system of complex interacting units that resembles complex interacting systems in nature such as earthquakes. Remarkably, work in econophysics has provided evidence that the statistical properties of the growth of business firms follow the same sorts of power laws that characterize physical systems near their critical points. Given how economies change over time, whether these statistical properties are persistent, robust, and universal like those of physical systems remains an open question. Here, we show that the scaling properties of firm growth previously demonstrated for publicly-traded U.S. manufacturing firms from 1974 to 1993 apply to the same sorts of firms from 1993 to 2015, to firms in other broad sectors (such as materials), and to firms in new sectors ( such as Internet services). We measure virtually the same scaling exponent for manufacturing for the 1993 to 2015 period as for the 1974 to 1993 period and virtually the same scaling exponent for other sectors as for manufacturing. Furthermore, we show that fluctuations of the growth rate for new industries self-organize into a power-law over relatively short time scales.en_US
dc.description.sponsorshipResearch at the Boston University Center for Polymer Studies is supported by NSF Grant PHY-1505000 and by DTRA Grant HDTRA1-14-1-0017. (PHY-1505000 - NSF; HDTRA1-14-1-0017 - DTRA)en_US
dc.format.extent5 pagesen_US
dc.languageEnglish
dc.publisherNature Publishing Groupen_US
dc.relation.ispartofScientific Reports
dc.rights© The Author(s) 2019. Open Access. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.en_US
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectScience & technologyen_US
dc.subjectMultidisciplinary sciencesen_US
dc.subjectStatistical physicsen_US
dc.subjectPower-law distributionsen_US
dc.subjectScaling behavioren_US
dc.subjectEconophysicsen_US
dc.subjectEconomicsen_US
dc.subjectScaling lawsen_US
dc.subjectFirm growthen_US
dc.subjectBiochemistry and cell biologyen_US
dc.titleUniversal fluctuations in growth dynamics of economic systemsen_US
dc.typeArticleen_US
dc.description.versionPublished versionen_US
dc.identifier.doi10.1038/s41598-018-38088-z
pubs.elements-sourcemanual-entryen_US
pubs.notesBasic or Discovery Scholarshipen_US
pubs.notesEmbargo: Not knownen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, College of Arts & Sciencesen_US
pubs.organisational-groupBoston University, College of Arts & Sciences, Department of Physicsen_US
pubs.organisational-groupBoston University, Questrom School of Businessen_US
pubs.organisational-groupBoston University, Questrom School of Business, Markets, Public Policy & Lawen_US
pubs.publication-statusPublisheden_US
dc.identifier.mycv425505


This item appears in the following Collection(s)

Show simple item record

© The Author(s) 2019. Open Access. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
Except where otherwise noted, this item's license is described as © The Author(s) 2019. Open Access. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.