The link between measured risk aversion and the decision to become an entrepreneur is well established, but the link between risk preferences and entrepreneurial success is not. Standard theoretical models of occupational choice under uncertainty imply a positive correlation between an...

In Lazear (2005)’s model of entrepreneurship, individuals with more diverse academic and occupational training are more likely to become entrepreneurs, while more narrowly trained individuals become employees. We examine whether Lazear’s model can also explain which individuals...

The link between measured risk aversion and the decision to become an entrepreneur iswell established, but the link between risk preferences and entrepreneurial success is not.Standard theoretical models of occupational choice under uncertainty imply a positivecorrelation between an...