'This is a superb and fascinating book. The distribution of firms' growth rates exhibits a large number of regularities, including some that are very hard to explain. The authors are pioneers in that enterprise, combining empirical and theoretical work. This team of economists and physicists provides a model for a future way to do economics.' Xavier Gabaix, Pershing Square Professor of Economics and Finance, Harvard University 'The Rise and Fall of Business Firms offers a lucid reconstruction and extension of the exciting developments that fundamentally reshaped our understanding of how firms grow and evolve, brought to you by the scientists responsible for the key discoveries. A must for anyone interested in the deep laws that govern economic processes.' Albert-Lįszló Barabįsi, Robert Gray Dodge Professor of Network Science, Northeastern University 'There is a long tradition of physicists being interested in and contributing to economics. That tradition continues here in The Rise and Fall of Business Firms. The book is based on generalized proportional growth models for the dynamics and stochastics of the growth and decline of business firms. For further studies, the book points out where more detailed specific inter-related complexities (such as among products, markets, and technologies) can be incorporated. The theoretical analysis paired with empirical data provides valuable insight for firms to understand their past trajectory and future choices.' Michael F. Schlesinger, Office of Naval Research
