Analysis of Extremes in Management Studies
Joel A. C. Baum
University of Toronto - Joseph L. Rotman School of Management
University of California, Los Angeles (UCLA) - Anderson School of Management
Research Methodology in Strategy and Management, Vol. 3, pp. 123-196, 2006
The potential advantage of extreme value theory in modeling management phenomena is the central theme of this paper. The statistics of extremes have played only a very limited role in management studies despite the disproportionate emphasis on unusual events in the world of managers. An overview of this theory and related statistical models is presented, and illustrative empirical examples provided.
Number of Pages in PDF File: 74
Keywords: Extreme Value Theory, Power Laws, Management Studies
JEL Classification: C14, M10, M20
Date posted: April 2, 2008
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