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Using state-level data on productive and unproductive entrepreneurship, shadow economy size, and public official … corruption, this paper examines whether formal sector productive (unproductive) entrepreneurial activity is associated with lower … (higher) levels of informal economic activity. Additionally, I aim to connect entrepreneurship, shadow economy size, and …
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We examine generational differences in risk-taking behavior by means of a laboratory experiment with monetary incentives. We estimate the parameterized models in the framework of cumulative prospect theory and examine the risk aversion, probability weightings and reference point adoption of...
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