Do entrepreneurs earn supernormal returns, or does competitive pressure ensure that entrepreneurs receive the same utility level as workers? If those who run their own businesses get supernormal returns (or 'rents') they should be happier than those who work as employees. The paper tests this...

Seeks to understand the impact of capital availability and psychological characteristics on one's decision to pursue self-employment. In analyzing the effect of capital availability, focus is placed on the impact that inheritance or gift has on the decision to become self-employed. This is done...