start, the paper briefly documents evidence from the empirical literature that the relationship between entrepreneurship and … in the market, and that returns to entrepreneurship have a much larger cross-sectional variance than returns to wage work …. The paper shows that these facts can be explained in a model of occupational choice between wage work and entrepreneurship …

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

, lenders may charge higher interest rates or ration credit supply, which can hamper entrepreneurship. Both aspects of a more … entrepreneurship. …

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 …

one of the most prominent determinants of entrepreneurship - education - and approximately three times larger than …