We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in...

We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in...

We investigate how personal income taxes affect the portfolio share of personal wealth that entrepreneurs invest in their own business. In a reformulation of the standard portfolio choice model that allows for underreporting of private business income to tax authorities, we show that a fall in...

A common finding in the entrepreneurship literature is that business creation increases in recessions. This counter-cyclical pattern is examined by separating business creation into two components: "opportunity" and "necessity" entrepreneurship. Although there is general agreement in the...

The 2D:4D digit ratio, the ratio of the length of the 2nd digit to the length of the 4th digit, is often considered a proxy for testosterone exposure in utero. A recent study by Nicolaou et al. (2018) reported an association between the lefthand 2D:4D and self-employment (in a sample of about...

We investigate the impact of new digital technologies upon occupations. We argue that these impacts may be both destructive and transformative. The destructive effects of digitalization substitute human labor, while transformative effects of digitalization complement it. We distinguish between...