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Risk tolerance and entrepreneurship
Hvide, Hans K; Panos, Georgios - C.E.P.R. Discussion Papers - 2013
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/10011083758
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Do entrepreneurs matter?
Becker, Sascha O.; Hvide, Hans K - C.E.P.R. Discussion Papers - 2013
In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...
Persistent link: https://www.econbiz.de/10011083991
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Small Family, Smart Family? Family Size and the IQ Scores of Young Men
Black, Sandra; Devereux, Paul J.; Salvanes, Kjell G - C.E.P.R. Discussion Papers - 2007
How do families influence the ability of children? Cognitive skills have been shown to be a strong predictor of educational attainment and future labor market success; as a result, understanding the determinants of cognitive skills can lead to a better understanding of children’s long run...
Persistent link: https://www.econbiz.de/10005789041
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IQ, Social Mobility and Growth
Hassler, John; Mora, Rodríguez; Vicente, José - C.E.P.R. Discussion Papers - 1998
depends on the relative award the market assigns to intelligence versus other individual merits, which will also influence … equilibrium in the labour market implies that the reward to entrepreneurs depends more on social assets than on intelligence. This …
Persistent link: https://www.econbiz.de/10005124419
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Defense R&D in the Anti-Terrorist Era
Trajtenberg, Manuel - C.E.P.R. Discussion Papers - 2004
prominently, commanding 30% of current defense R&D spending, versus just about 13% for intelligence and anti-terrorism. The second … security. Intelligence emerges as the key aspect of the war against terrorism and, accordingly, R&D aimed at providing advanced … technological means for intelligence is viewed as the cornerstone of defense R&D. This entails developing computerized sensory …
Persistent link: https://www.econbiz.de/10005136658
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Older and Wiser? Birth Order and IQ of Young Men
Black, Sandra; Devereux, Paul J.; Salvanes, Kjell G - C.E.P.R. Discussion Papers - 2007
While recent research finds strong evidence that birth order affects children’s outcomes such as education and earnings, the evidence on the effects of birth order on IQ is decidedly mixed. This paper uses a large dataset on the population of Norway that allows us to precisely measure birth...
Persistent link: https://www.econbiz.de/10005497911
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Cognitive Ability and Paternalism
Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002
sufficient intelligence by people with limited intelligence may dominate government regulation. …
Persistent link: https://www.econbiz.de/10005662402
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Foreign Firms, Domestic Wages
Malchow-Møller, Nikolaj; Markusen, James R.; … - C.E.P.R. Discussion Papers - 2007
Foreign-owned firms are often hypothesized to generate productivity “spillovers” to the host country, but both theoretical micro-foundations and empirical evidence for this are limited. We develop a heterogeneous-firm model in which ex-ante identical workers learn from their employers in...
Persistent link: https://www.econbiz.de/10005792490
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Teaching locals new tricks: foreign experts as a channel of knowledge transfer
Markusen, James R.; Trofimenko, Natalia - C.E.P.R. Discussion Papers - 2007
Gains from productivity and knowledge transmission arising from the presence of foreign firms have received a good deal of empirical attention, but theoretical micro-foundations for this mechanism are limited. Here we develop a dynamic model in which foreign experts may train domestic workers...
Persistent link: https://www.econbiz.de/10005661512
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The Macroeconomics of Knowledge Management: Internal Hold-Up versus Technological Competition
Thoenig, Mathias; Verdier, Thierry - C.E.P.R. Discussion Papers - 2004
This Paper investigates the links between the nature of contractual relationships within firms, the strength of information flows spreading between firms and the dynamics of technological competition. At the firm level, we focus on the corporate incentives to design Knowledge Management policies...
Persistent link: https://www.econbiz.de/10005498111