We combine two empirical observations in a general equilibrium occupational choice model.The first is that entrepreneurs have more control than employees over the employment ofand accruals from assets, such as human capital. The second observation is thatentrepreneurs enjoy higher returns to...

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...

Entrepreneurship is a hot topic both in academic and policy circles.1 There is a growingrecognition that entrepreneurship is a driving force in economic growth and development in bothestablished and emerging economies. There is also an increasing body of evidence suggestingentrepreneurship that...

The paper draws upon the work of T.W. Schultz to show that human capital theory andlabor market adjustments have important implications for investing in people for the 21st Century.[...]

Out-migration of college-educated youth from rural areas of the United States is a persistent trend and a salient concern for rural development practitioners. Using a unique dataset compiled from a survey of alumni graduating from a major Midwestern Land Grant University between 1982 and 2006,...

There is a large body of evidence supporting the notion that a) those who grow up to be patient(forward-looking) do better in life compared to those who do not, and b) parents can inculcatethe virtue of delayed gratification in their children by taking the right sort of actions. We studya...

We hypothesize that hog production can be characterized by complementarities between newtechnologies, worker skills and farms size. Such production processes are consistent withKremer’s (1993) O-ring production theory in which a single mistake in any one of severalcomplementary tasks in a...

Deja vu - war schon immer so - tut sich nichts - da kann man nichts machen - wir haben schon alles probiert- wie soll ich das denn ändern? Entwicklung scheint schwierig zu sein, auf der Ebene des Individuums,sozialer Systeme oder ganzer Gesellschaften. Entwicklung wird möglich, so die These in...

This paper reviews the stylized facts regarding the levels of human capital investments and the returnsto those investments in developing countries. These returns are substantial and are pervasive acrossdemographic groups. Returns are comparable between men and women and between urban and...

This paper reviews the stylized facts regarding the distribution of human capital investments and the returns to those investments in developing countries. It then examines recent evidence regarding which policies can induce increased human capital investments in the most efficient manner, using...