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entrepreneurs in an economy. We develop a dynamic occupational choice model with endogenous wealth and entry into entrepreneurship …. The model predicts that, with liquidity constraints, the probability of entering entrepreneurship is an increasing … wealth profile for the fraction of workers in entrepreneurship, start-up costs weaken this relationship by depressing the …
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Existing literature suggests that entrepreneurs with prior firm-founding experience have more skills and social connections than novice entrepreneurs. Such skills and social connections could give experienced founders some advantage in the process of raising venture capital. This paper uses a...
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