This paper studies 40 years of evolution in the German laser industry to test the generality of evolutionary patterns observed in the U.S. laser industry. Key characteristics found in the U.S. industry are also present in Germany. There is sustained entry into the industry, and neither a...

We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of entrepreneurs in an economy. We develop a dynamic occupational choice model with endogenous wealth and entry into entrepreneurship. The model predicts that, with liquidity...

In recent years the topic entrepreneurship has become a major focus in the social sciences, with renewed interest in the links between personality and entrepreneurship. Taking a socioecological perspective to psychology, which emphasizes the role of social habitats and their interactions with...