influence on risk attitudes and opportunity recognition. We conduct a natural experiment based on Germany’s recent history and … compare individuals born and raised in the former socialist East Germany (GDR) with their West Germany (FRG) counterparts. Our … analysis confirms the expected difference in values between individuals from East and West Germany and also shows that these …

vary in their pattern of new firm location. In East Germany, only 5 percent of the industries reveal start-up localization … patterns beyond what natural advantages would suggest compared to 40 percent in West Germany. -- Entrepreneurship ; location …

vary in their pattern of new firm location. In East Germany, only 5 percent of the industries reveal start-up localization … patterns beyond what natural advantages would suggest compared to 40 percent in West Germany. -- Entrepreneurship ; location …

establishments’ survival chances differ between East and West Germany and whether they converged over time. I find that new … establishments in East Germany had relatively good survival chances between 1994 and 1997, with no big differences between East and … West Germany. In 1998 and 1999 the exit hazard increased strongly in East but not in West Germany, which is likely to be …