Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a positive premium. This paper develops a theory of endogenous en-trepreneurial risk taking that explains why self-financed entrepreneurs may find it optimal to invest into risky projects offering no risk premium. The model has also a number of implications for firm dynamics supported by empirical evidence, such as a positive correlation between survival, size, and firm age.
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empiric...
There is a growing body of evidence that many entrepreneurs seem to enter and persist in entrepreneu...
Why do people engage in entrepreneurship and commit large parts of their personal wealth to their b...
Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a positive premium. Thi...
In the “Knightian ” theory of entrepreneurship, entrepreneurs provide insur-ance to workers by payin...
In the 'Knightian' theory of entrepreneurship, entrepreneurs provide insurance to workers by paying ...
We report on the results of experiments where participants choose between entrepreneurship and an ou...
We report on the results of experiments where participants choose between entrepreneurship and an ou...
The success of an entrepreneur depends largely on the level of risk he can take and how he has been ...
In the literature on \u85rm entry and performance, economists have given little attention to the ind...
Entrepreneurs face significant non-diversifiable business risks. In a dynamic incomplete-markets mod...
Entrepreneurship is characterised by individuals starting new ventures that involve both foreseen an...
We develop a dynamic incomplete-markets model of entrepreneurial firms, and demon-strate the implica...
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empiric...
Risk taking has long been a central theme of the entrepreneurship literature. However, research on t...
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empiric...
There is a growing body of evidence that many entrepreneurs seem to enter and persist in entrepreneu...
Why do people engage in entrepreneurship and commit large parts of their personal wealth to their b...
Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a positive premium. Thi...
In the “Knightian ” theory of entrepreneurship, entrepreneurs provide insur-ance to workers by payin...
In the 'Knightian' theory of entrepreneurship, entrepreneurs provide insurance to workers by paying ...
We report on the results of experiments where participants choose between entrepreneurship and an ou...
We report on the results of experiments where participants choose between entrepreneurship and an ou...
The success of an entrepreneur depends largely on the level of risk he can take and how he has been ...
In the literature on \u85rm entry and performance, economists have given little attention to the ind...
Entrepreneurs face significant non-diversifiable business risks. In a dynamic incomplete-markets mod...
Entrepreneurship is characterised by individuals starting new ventures that involve both foreseen an...
We develop a dynamic incomplete-markets model of entrepreneurial firms, and demon-strate the implica...
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empiric...
Risk taking has long been a central theme of the entrepreneurship literature. However, research on t...
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empiric...
There is a growing body of evidence that many entrepreneurs seem to enter and persist in entrepreneu...
Why do people engage in entrepreneurship and commit large parts of their personal wealth to their b...
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