A theory is proposed that individuals with a'balanced' set of skills are more likely to become entrepreneurs thanindividuals with specializations. A model of occupational choice whichsupports this theory is presented.The model also predicts that the uppertail of the income distribution is fatter...

The entrepreneur assembles the necessary human,physical, and information resources in an efficient manner to create a newproduct or an existing one at a lower or competitive cost. It is hypothesizedthat while entrepreneurs differ from specialists who have a comparativeadvantage in a single...