It is well documented that firms led by females do not obtain capital investment at the same rate as males. Part of the reason behind this funding gap is gender-based differences in access to investors. In this study, I evaluate the effects of the 2012 legislation that legalized accredited...

In this paper, I explore business cycle-related dynamics in differences in exit decisions between serial and novice entrepreneurs. Using time-series geographic variation in eco- nomic conditions, I examine how businesses founded by serial and novice entrepreneurs differentially respond to...

Industrial production in the United States declined by 47 percent between 1929 and 1933. This paper quantifies how the severity of the Great Depression within a location may affect contemporaneous entrepreneurship rates. On one hand, a more severe decline in productivity could have persistent...

Models of creative destruction posit that recessions are periods of reallocation and disruption, generating new ideas that catapult new firms to the frontier. However, empirical evidence suggests that research and development (R&D) expenditures and patenting is procyclical, not counter-cyclical....

A growing literature in economics explores the relationship between personal experiences with the business cycle and belief/preference formation. There exists substantial evidence using national variation in business cycles that personal experiences hold substantial weight in decision-making....

This paper examines the effect that past experiences have on the decision to invest in protective measures. These protective measures serve to mitigate damages should the event occur again. It shows that three past experiences with negative consequences - Hurricane Andrew, the Aspen Wildfire,...