soliciting the current client in the event of termination of employment. The socially optimal level of entrepreneurship will … are too restrictive and produce too little entrepreneurship, and governments can increase welfare by limiting enforcement …

an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to … entrepreneurship may decline with age, but business skills increase with experience in high level positions. Having too many older … workers in society slows entrepreneurship. Older workers do not possess the advantages of youth, but more significant is that …

We document three new facts about entrepreneurship. First, a majority of male entrepreneurs start a firm in the same or …

aversion, higher initial assets, preferences for entrepreneurship over employment, and optimistic beliefs about the payoffs …

a start-up, or the inventor's effort cost in development is lower in a start-up. We test the theory using data from the … with the predictions of our theory …

not to divide the shares equally among all founders. To motivate the empirical analysis we develop a simple theory of … differentiated allocation of founder equity. We test the predictions of the theory on a proprietary dataset comprised of 1 …. Further econometric tests suggest that, as predicted by the theory, this effect is driven by unobservable heterogeneity, and …

important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints … examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified …