. Comparing companies by size, the rate of risk of death of small and medium businesses is 20.3% greater than large companies, but …

of inefficient producers. Alternatively, the threat or reality of foreign competition can impede investment in new …

discrete choice models with the econometric theory of simultaneous systems of equations modelling discrete decisions. We …

risk averse and not necessarily risk neutral. It is shown that the results under risk-neutrality (Chander and Wilde (1998 …)) largely hold under risk aversion. We first show that in an optimal scheme the tax evasion decision of the agent is equivalent … aversion to such large risks. In contrast, the Arrow-Pratt coefficients of risk aversion measure aversion to small risks only …

inequality. The paper uses the framework of an OLG economy with endogenous investment in human capital. Agents in each generation … depends on both his talent and his investment in education. The investment decision is based on a public signal (test outcome …