Ilmakunnas, Pekka; Kanniainen, Vesa; Lammi, Uki - Economic Policy Research Unit (EPRU), Økonomisk Institut
We find strong evidence in the OECD country panel data to support the Knightian view that non-diversifiable economic risks shape the equilibrium entrepreneurship in an occupational choice model. Differential social insurance of entrepreneurial and labor risk is found to be statistically...
