In recent times, it has become obvious that linear models of the world in general and management in particular do not carry as far as we expected them to. However, the question of how we can find a clue how to deal with a world that is a complex aggregation of evolving interactions is still...

The paper introduces a model of enterprise formation in a unionized economy with labor protection and wage bargaining. Enterprise formation is subject to future market risk and is shaped by labor market institutions in the post-entry stage. The predictions of the model are tested in...

Do entrepreneurs consider the risk of their business equity when making investment portfolio allocations? Many people compartmentalize different risks and consider them separately, called mental accounting. Alternatively, the risk substitution hypothesis suggests that entrepreneurs would offset...