We offer a brief review of the use of distributional mixture models with a finite number of components for the study of the distribution of income. In general, finite mixture models find a number of applications across fields, but they usually arise from theoretical considerations. Application...

Economists and policy makers have used the increase in the concentration of return on invested capital (ROIC) in publicly-traded US firms over the last decades as evidence for the decline of competitiveness in the broader economy. Principle support for this claim is a graph presented by the...

Economists and policy makers have used the increase in the concentration of return on invested capital (ROIC) in publicly-traded US firms over the last decades as evidence for the decline of competitiveness in the broader economy. Principle support for this claim is a graph presented by the...

Bayes' theorem incorporates distinct types of information through the likelihood and prior. Direct observations of state variables enter the likelihood and modify posterior probabilities through consistent updating. Information in terms of expected values of state variables modify posterior...