The link between measured risk aversion and the decision to become an entrepreneur is well established, but the link between risk preferences and entrepreneurial success is not. Standard theoretical models of occupational choice under uncertainty imply a positive correlation between an...

In Lazear (2005)’s model of entrepreneurship, individuals with more diverse academic and occupational training are more likely to become entrepreneurs, while more narrowly trained individuals become employees. We examine whether Lazear’s model can also explain which individuals...

This paper examines the extent to which differences in risk preferences between men and women explain why women have a lower entrepreneurship rate, earn less, and work fewer hours than men.  Data from the NLSY79 confirms previous findings that women are more risk averse than men.  However,...

We investigate the stability of measured risk attitudes over time, using a 13-year longitudinal sample of individuals in the NLSY79. We find that an individual’s risk aversion changes systematically in response to personal economic circumstances.  Risk aversion increases with lengthening...

<Para ID="Par1">Sri Lanka’s Termination of Employment of Workmen Act (TEWA) requires that firms with 15 or more workers justify layoffs and provide generous severance pay to displaced workers, with smaller firms being exempted. Although formally subject to TEWA, firms in Export Promotion Zones (EPZs) do not...</para>

Universities spend almost $2 billion subsidizing their collegiate sports programs.  Even the most popular women’s sport, basketball, fails to break even. An application of Becker’s theory of customer discrimination is used to calculate the relative preference for men’s...

This report presents an overview of social entrepreneurship activities of public university graduates obtained from a survey. Almost 3 percent of respondents had created at least one nonprofit organization. The primary focus of the organizations founded by social entrepreneur respondents was...

  This paper examines the roles of specialized versus general skills in explaining variation in the returns to an agriculture degree across majors inside and outside the agricultural industry. The focus on returns by sector of employment is motivated by the finding that most agricultural majors...

The philosophy of fiscal federalism presumes that local communities will under- or over-provide public amenities in the presence of externalities.  We test this hypothesis using data from Vision Iowa, a state program which provided partial funding to communities to build tourist attractions. ...