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We use experiments to test comparative statics predictions of canonical tournament theory. Both the roles of principal and agent are populated by human subjects, allowing us to test predictions for both incentive responses and optimal tournament design. Consistent with theory, we observed an...
Persistent link: https://www.econbiz.de/10010282234
incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or …
Persistent link: https://www.econbiz.de/10010267674
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10010282296
Using Finnish panel data, we study how entrepreneurs differ from workers in education and income dynamics. We find that … workers have higher median income in all educational groups. Without additional controls, entrepreneurs have higher average … income with all but undergraduate level of education. However, random effects and matching models suggest that entrepreneurs …
Persistent link: https://www.econbiz.de/10010261924
entrepreneurship and credit constraints under labour market discrimination. We divide self employed into prefer to be self-employed and … prefer to have a salaried job but cannot find one; and divide salaried workers into want-to-be entrepreneurs and happy …-to-be salaried workers. Over 40 percent of migrant workers are either currently or want-to-be entrepreneurs. Both groups are very …
Persistent link: https://www.econbiz.de/10010286270
In a recent paper Edward Lazear proposed the jack-of-all-trades view of entrepreneurship. Based on a coherent model of … roles increases the probability of becoming an entrepreneur. The intuition behind this proposition is that entrepreneurs …. This paper contributes to the entrepreneurship literature by empirically testing Lazear's hypothesis using a large recent …
Persistent link: https://www.econbiz.de/10010261621
Using a large recent representative sample of the German population this paper contributes to the entrepreneurship … literature by empirically testing the hypothesis that young and small firms are hothouses for nascent entrepreneurs. The … economic importance for entrepreneurship of work experience in a firm that is both young and small. …
Persistent link: https://www.econbiz.de/10010261762
This paper tests the theory recently put forward by Edward Lazear that individuals with competence in many skills should have a higher probability of being self-employed than others. The empirical results for Germany support this jack-of-all-trades view.
Persistent link: https://www.econbiz.de/10010262630
The theory proposed below is that entrepreneurs are jacks-of-all-trades who may not excel in any one skill, but are … individuals with balanced skills are more likely than others to become entrepreneurs. The model provides implications for the … proportion of entrepreneurs by occupation, by income and yields a number of predictions for the distribution of income by …
Persistent link: https://www.econbiz.de/10010262718
Although comprehensive data from official statistics on new firm formation and entrepreneurs starting a new business …
Persistent link: https://www.econbiz.de/10010262745