How valuable is education for entrepreneurs’ performance as compared to employees’?What might explain any differences? And does education affect peoples’ occupationalchoices accordingly? We answer these questions based on a large panel of US labor forceparticipants. We show that education...

Existing studies show a positive relationship between entrepreneurs' business performance and their conventional human capital as measured by previous business experience and formal education. In this paper, we explore whether illegal entrepreneurship experience (IEE), an unconventional form of...

How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences? And does education affect peoples’ occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that...

How valuable is education for entrepreneurs' performance as compared to employees'? What might explain any differences? And does education affect peoples' occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that education...

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 of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

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...

This paper proposes that risk aversion encourages individuals to invest in balanced skillprofiles, making them more likely to become entrepreneurs. By not having taken this possiblelinkage into account, previous research has underestimated the impacts both of risk aversionand balanced skills on...

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 of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

Can educational institutions explain occupational choice between wage employment and entrepreneurship? This paper follows Lazear's (2005) Jack-of-all-trades hypothesis according to which an individual with a more balanced set of abilities is more likely to enter into entrepreneurship. In the...

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 of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...