When mean growth rates decline across large size classes of firms, the differences can become too small to achieve statistical significance, creating an illusion of proportionate size‐independent growth (Gibrat's law). Thus, a final confirmation of the law requires a lognormal size...

Early critics of motor carrier deregulation believed that the policy was unwise because strong economies of scale would lead to harmful market concentration, particularly in the industry's LTL segment. Using two methodologies, the survivor technique and the trans-log cost function, this study...