Risk attitudes of nascent entrepreneurs-new evidence from an experimentally validated survey

Small Business Economics

Volumn 32, Issue 2, 2009, Pages 153-167

  Caliendo, Marco ^a   Fossen, Frank M ^b   Kritikos, Alexander S ^c  

^a IZA   (Germany)

^b DIW BERLIN   (Germany)

^c Private Hanseuniversität Rostock   (Germany)

Author keywords

Entrepreneurship; Risk attitudes; Self employment

Indexed keywords

EID: 58149163328     PISSN: 0921898X     EISSN: 15730913     Source Type: Journal    
DOI: 10.1007/s11187-007-9078-6     Document Type: Article

References (31)

1. P. Arenius M. Minniti 2005 Perceptual variables and nascent entrepreneurship Small Business Economics 24 233 247
2. R. Barsky F. Juster M. Kimball M. Shapiro 1997 Preference parameters and behavioral heterogeneity: An Experimental approach in the health and retirement study The Quarterly Journal of Economics 111 537 579
3. D. Blanchflower A. Oswald 1998 What makes an entrepreneur? Journal of Labor Economics 6 26 60
4. J. Cramer J. Hartog N. Jonker C. Van Praag 2002 Low risk aversion encourages the choice for entrepreneurchip: An empircal test of a truism Journal of Economic Behavior and Organization 48 29 36
5. Croson, R., & Gneezy, U. (2004). Gender differences in preferences. Working paper, Wharton School, University of Pennsylvania.
6. Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J., & Wagner, G. (2005). Individual risk attitudes: New evidence from a large, representative, experimentally-validated survey, Discussion paper no. 511, DIW Berlin.
7. T. Dunn D. Holtz-Eakin 2000 Financial capital, human capital, and the transition to self-employment: Evidence from intergenerational links Journal of Labor Economics 18 282 305
8. J. Ekelund E. Johannson M. Järvelin D. Lichtermann 2005 Self-employment and risk aversion-evidence from psychological test data Labour Economics 12 649 659
9. Gifford, S. (2003). Risk and uncertainty. In Z. Acs & D. Audretsch (Eds.), Handbook of entrepreneurship research: An interdisciplinary survey and introduction (pp. 37-52). Kluwer Academic Publishers.
10. Haisken De-New, J., & Frick, J. (2005). Desktop compendium to the German socio-economic panel study (SOEP). Berlin: DIW.
11. T. Hinz M. Jungbauer-Gans 1999 Starting a business after unemployment: Characteristics and chances of success (empirical evidence from a regional German labour market) Entrepreneurship and Regional Develoment 11 317 333
12. E. Johannson 2000 Self-employment and liquidity constraints-evidence from Finland Scandinavian Journal of Economics 102 123 134
13. R. Kihlstrom J. Laffont 1979 A general equilibrium theory of firm formation based on risk aversion Journal of Political Economy 87 719 748
14. G. King L. Zeng 2003 Logistic regression in rare events data Journal of Statistical Software 8 2 137 163
15. Köllinger, P., Minniti, M., & Schade, C. (2005a). Entrepreneurial overconfidence: Evidence from a C.A.R.T. approach. Discussion paper 465, DIW Berlin.
16. Köllinger, P., Minniti, M., & Schade, C. (2005b). "I think I can, I think I can": Overconfidence and entrepreneurial behavior. Discussion paper 501, DIW.
17. Kreditanstalt für Wiederaufbau (2005). KfW-Gründungsmonitor 2005. Jährliche Analyse von Struktur und Dynamik des Grü ndungsgeschehens in Deutschland, Report, Frankfurt.
18. B. Lentz D. Laband 1990 Entrepreneurial success and occupational inheritance among proprietors Canadian Journal of Economics 23 563 579
19. G. Müller 1999 Personality and entrepreneurship-measurement and analysis of dispositional influences Wirtschaftspsychologie 6 2 12
20. J. Pratt 1964 Risk aversion in the small and in the large Econometrica 32 122 136
21. Rauch, A., & Frese, M. (2000). Psychological approaches to entrepreneurial success: A general model and an overview of findings. In C. Cooper & I. Robertson (Eds.), International review of industrial and organizational psychology (pp. 101-142). Wiley.
22. H. Rees A. Shah 1986 An empirical analysis of self-employment in the UK Journal of Applied Econometrics 1 95 108
23. P. Reynolds N. Bosma E. Autio 2005 Global entrepreneurship monitor: Data collection design and implementation 1998-2003 Small Business Economics 24 205 231
24. Rosen, H., & Willen, P. (2002). Risk, return and self-employment. Discussion paper, University of Princeton.
25. B. Schiller P. Crewson 1997 Entrepreneurial origins: A longitudinal inquiry Economic Inquiry 35 523 531
26. Sternberg, R., Bergmann, H., & Tamásy, C. (2001). Global entrepreneurship monitor. Länderbericht Deutschland 2001. Discussion paper, Wirtschafts- und Sozialwissenschaftliches Institut, Universität zu Köln.
27. W. Stewart W. Watson J. Carland J. Carland 1999 A proclivity for entrepreneurship: A comparison of entrepreneurs, small business owners, and corporate managers Journal of Business Venturing 14 189 214
28. Van Praag, C., & Cramer, J. (2001). The roots of entrepreneurship and labour demand: Individual ability and low risk aversion. Economica (pp. 45-62).
29. J. Wagner 2003 The impact of personal characteristics and the regional milieu on the transition from unemployment to self-employment: empirical evidence for Germany Jahrbücher für Nationalökonomie und Statistik 223 2 204 221
30. J. Wagner 2007 What a difference a Y makes-female and male nascent entrepreneurs in Germany Small Business Economics 28 1 21
31. J. Wagner R. Sternberg 2005 Personal and regional determinants of entrepreneurial activities: Empirical evidence from the regional entrepreneurship monitor (REM) Jahrbuch für Regionalwissenschaft 25 91 105