T.W. Schultz (1975) proposed that returns to human capital were highest in economicenvironments where technology, price or production shocks were common and managerial skillsto adapt resource allocations to those shocks were most in need. We hypothesize that variationin returns to human capital...

Sometimes authorities are unable to identify rapidly the origin of a tainted product.In such cases, recalls or warnings often apply to all suppliers, even to those thathad not contributed to the contamination. Traceability enables more targetedrecalls by identifying more specically the product's...

This paper examines the extent to which differences in risk preferences between men and women explain why women have a lower entrepreneurship rate, earn less, and work fewer hours than men.  Data from the NLSY79 confirms previous findings that women are more risk averse than men.  However,...

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...