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The Probability of Transition to Entrepreneurship Revisited: Wealth, Education and Age

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dc.contributor.authorMondragon-Velez, Camilo
dc.date.accessioned2012-03-30T07:29:43Z
dc.date.available2012-03-30T07:29:43Z
dc.date.issued2009
dc.description.abstractThis paper revisits the empirical relationship between the probability of transition to entrepreneurship and wealth. Given that wealth is correlated with both education and age, these observable characteristics cannot be treated as independent covariates in the estimation. Thus, I document the differences in the transition probability profile across age and education groups. The main result of this paper is that the estimated probability of transition to entrepreneurship is hump-shaped in wealth across cohorts defined by age and education. Therefore, the aggregate profile estimated by Hurst and Lusardi (J Polit Econ 112(2):319-347, 2004) is not representative at the micro level. In addition, this paper provides facts that evidence important differences between entrepreneurs and workers, as well as among entrepreneurs, across education and age.en
dc.identifier.citationAnnals of Finance
dc.identifier.issn16142446
dc.identifier.urihttps://hdl.handle.net/10986/4782
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectPersonal Income, Wealth, and Their Distributions D310
dc.subjectIntertemporal Consumer Choice
dc.subjectLife Cycle Models and Saving D910
dc.subjectEntrepreneurship L260
dc.titleThe Probability of Transition to Entrepreneurship Revisited: Wealth, Education and Ageen
dc.title.alternativeAnnals of Financeen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum1270
okr.journal.nbpages421-441
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.relation.associatedurlhttp://dx.doi.org/10.1007/s10436-008-0117-3
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1046397&site=ehost-live
okr.relation.associatedurlhttp://www.springerlink.com/content/1614-2446
okr.volume5
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