In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and … innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who … become entrepreneurs by limiting the downside risk. The effort of entrepreneurs may, however, be hampered by high risk …

characteristics likely to predictexpectations of firm growth.The data for this longitudinal study wereprovided by the Entrepreneurship …

in the model which represent the micro foundation in the model. One of the conclusions is that the more “risk averse” the …

activity is fraught with great risk, which is largely exacerbated by liquidity constraints. This situation is especially …

A large and still growing body of literature suggests that entrepreneurship is of exceptional importance in explaining …