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Persistent link: https://www.econbiz.de/10003316915
principles facilitating the trade of patents. …
Persistent link: https://www.econbiz.de/10008698217
execution and the risk is a result of price movements during a more gradual trading. The paper shows that the trade-off between …
Persistent link: https://www.econbiz.de/10012761661
In this paper, we empirically assess the causal links between trade and individual income risk and study the role that … and the linkage between trade and risk: While, on average, individuals with higher levels of industry- or occupation … of industry-specific human capital can be costly for workers in highly trade-exposed industries. By contrast, we find no …
Persistent link: https://www.econbiz.de/10012794639
execution and the risk is a result of price movements during a more gradual trading. The paper shows that the trade-off between …
Persistent link: https://www.econbiz.de/10012466529
Persistent link: https://www.econbiz.de/10009356449
entrepreneurial activity on the entrepreneur. In academic literature, this one-sided risk allocation is usually justified by the … informational advantages and unobservable actions of the entrepreneur. This article develops two alternative behavioral explanations … risks on the entrepreneur challenges classical academic explanations based on asymmetric information. -- Inequality aversion …
Persistent link: https://www.econbiz.de/10009554227
Entrepreneurs face higher commercialization costs than incumbents. We show that this implies that entrepreneurs will choose more risky projects than incumbents, aiming to reduce their high expected marginal commercialization cost. However, entrepreneurs may select too safe projects from a social...
Persistent link: https://www.econbiz.de/10009625140
This paper examines how entrepreneurs and incumbents differ in R&D strategies. We show that entrepreneurs have incentives to choose projects with higher risk and a higher potential in order to reduce expected commercialization costs. However, entrepreneurs may still select too safe projects from...
Persistent link: https://www.econbiz.de/10011549385
A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we...
Persistent link: https://www.econbiz.de/10013086658