This paper combines the theories on social capital and occupational choices to explain how social capital that saves on transaction costs and scale economies of skills in the production technology, determine the relative specialization between entrepreneurs-managers and markets in governing...

This paper compares the information content of the number of persons self-employed with the number of active firms, as measures of the entrepreneurial resources of an economy. Our purpose is to examine whether the two variables respond equally to the same potential sources of variability...

We set out to model the joint production of entrepreneurs and workers where the former provide both entrepreneurial (strategic) and managerial (coordination, motivation) services whilst management services are shared with individual workers in such a way that output is maximized. The static...

This paper extends the (Lucas, Bell J Econ 9:508-523,1978) model of occupational choices by individuals with different skills, beyond the simple options of self-employment or wage-employment, by including a second choice for the self-employed. That is, an option to hire employees and so become...