A high degree of risk tolerance is often regarded as one of the fundamental characteristics of entrepreneurs. Using multiple responses on risky income gambles in the 1979 National Longitudinal Survey of Youth (NLSY79), I investigate the effect of individual risk tolerance on the probability of...

Using data from the 1979 National Longitudinal Survey of Youth, I construct a sample of less educated men, all of whom are observed from age 22 to age 41, and examine the employment dynamics with a particular focus on the role of self-employment. I find that ¡°ever self-employed¡± workers...

Given that divorce often represents a high-stakes income gamble, we ask how individual levels of risk tolerance affect the decision to divorce. We extend the orthodox divorce model by assuming individuals are risk averse, marriage is risky, and divorce is even riskier. The model predicts that...

I examine employment dynamics of married women with a particular focus on the role of part-time work using panel data from South Korea.Using a dynamic multinomial logit model with random effects, I find that a part-time work alternative substantially reduces the probability of being out of the...

I examine employment dynamics of married women with a particular focus on the role of part-time work using panel data from South Korea. Using a dynamic multinomial logit model with random effects, I find that state dependence is overestimated when I ignore unobserved heterogeneity and the...