a positive relationship between an individual's potential payoffs in working and in entrepreneurship. If some firms … consequence, the entrepreneurship rate falls with income per capita, average firm size and firm size dispersion increase with … income per capita, and "entrepreneurship out of necessity" falls with income per capita. The paper also documents, for two of …

: the entrepreneurship rate and the fraction of small firms fall with per capita income across countries, while average firm … payoffs in working and in entrepreneurship. If some firms consistently benefit more from technological progress than others …

"Entrepreneurs out of necessity" identified by the Global Entrepreneurship Monitor survey are a sizeable group across …

start, the paper briefly documents evidence from the empirical literature that the relationship between entrepreneurship and … persist in the market, and that returns to entrepreneurship have a much larger cross-sectional variance than returns to wage … entrepreneurship where agents are heterogeneous in their ability as workers, and starting entrepreneurs face uncertainty about their …