The size distribution of firms is an important indicator of market concentration. Studying the distribution of sales for eBay’s commercial sellers, this paper provides the first analysis of a firm size distribution (FSD) at an online market, further examining its evolution, and the underlying...

Digital versions of labor and capital can be reproduced much more cheaply than their traditional forms. This increases the supply and reduces the marginal cost of both labor and capital. What then, if anything, is becoming scarcer? We posit a third factor, 'genius', that cannot be duplicated by...