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influence on risk attitudes and opportunity recognition. We conduct a natural experiment based on Germany’s recent history and … compare individuals born and raised in the former socialist East Germany (GDR) with their West Germany (FRG) counterparts. Our … analysis confirms the expected difference in values between individuals from East and West Germany and also shows that these …
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We examine whether Europe has an "entrepreneurship deficit" compared to other industrialized regions. Cross-country comparisons are difficult due to the lack of standard empirical definitions of entrepreneurship. Measures focusing on small business activity and startup rates suggest that Europe...
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