This paper identifies several distortions which create barriers to entrepreneurship. First, in addition to the innate … entrepreneurship. Third, inefficiencies in the transmission of tacit knowledge between generations of entrepreneurs can arise: with … access to within-family ownership transfer, the outside market for entrepreneurship operates as a lemon's market. This …

We model entrepreneurship and the emergence of firms as a result of simultaneous bidding for labor services among … individual wages, but always raises the averagewage and depresses the average incomes of incumbent entrepreneurs- strictly so if …

entrepreneur) or to turn to dependent employment. We test our theory using a 10-year panel dataset (2001 to 2010) of more than 4 …