This paper shows that utility differences between the self-employed and the employees increase with financial development. This effect is not explained by increased profits but by an increased value of non- monetary benefits, in particular job independence. We interpret these findings by...

The law of association as espoused by David Ricardo and generalized by Ludwig von Mises cannot directly convey what is at stake in exchanges involving specialization in uncertainty bearing. In this article we explain why the entrepreneurial function as conceptualized by Frank Knight and Mises...

Sophia Antipolis was created by the public authorities to attract high value added activities on the French Riviera, in the aim of strengthening a local economy driven historically by tourism. The theoretical model that has inspired the creation of Sophia Antipolis is governed by a top-down...

This paper analyzes return migrants' occupational choice upon their return to their home village, by using an original rural household survey conducted in Wuwei county (Anhui province, China) in 2008. We apply two complementary approaches : a horizontal comparative analysis of occupational...

Building on a case study of an entrepreneurial venture, we investigate the role played by business models in the innovation process. Rather than debating their accuracy and efficiency, we adopt a pragmatic approach to business models -- we examine them as market devices, focusing on their...

Small to medium enterprises (SME) are frequently associated with high levels of innovation. However, it is difficult for such firms to fully assess the merits of a particular innovation. This study examined the risk-return profile of future investment in innovation by SME with respect to...