Black swans and dragon kings: Why microeconomic data is often skewed (Seminar Microeconomics)

Microeconomic data is often skewed - consider income, wealth, stock market returns, firm sizes, profits, productivity and many other quantities. But why is this the case? What mechanisms are behind this? What mathematical caveats does this entail? What can we learn from it for economic analysis and policy?  To provide answers, this seminar will cover the theory of stable distributions and heavy-tailed distributions and their applications in microeconomics.