the international empirical literature from this freshperspective and by simulating risky earnings profiles in alternative … in a randomly selected financial portfolio with some30 stocks. Allowing for stochastic components in earnings also …

effect of talent, enhance entrepreneurial performance? We distinguish between three different performance measures: survival … founders, we conclude that specific investments indeed affect the three performance measures substantially and significantly …

How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences … show furthermore that entrepreneurs have higher returns to education than employees (in terms of the comparable performance …

workers hired into oil at the onset of a boom reap persistent earnings premiums across the boom-bust cycle. For most later … earnings penalties. We document mechanisms underlying this first-in, last-out pattern. Accumulated experience in professional …

, are the first to leave the firm (Last In, First Out; LIFO). Second, workers’ wages rise with seniority (= a worker …’s tenure relative to the tenure of her colleagues). We seek to explain these regularities by developing a dynamic model of the … to seniority in wages. Efficiency in hiring requires the workers’ bargaining power to be in line with their share in the …