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Employment or self-employment: A dynamic utility-maximizing model

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  • Levesque, Moren
  • Shepherd, Dean A.
  • Douglas, Evan J.
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 17 (2002)
    Issue (Month): 3 (May)
    Pages: 189-210

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    Handle: RePEc:eee:jbvent:v:17:y:2002:i:3:p:189-210

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    1. Bakshi, Gurdip S & Chen, Zhiwu, 1994. "Baby Boom, Population Aging, and Capital Markets," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 67(2), pages 165-202, April.
    2. Hayes, Rachel M. & Schaefer, Scott, 1999. "How much are differences in managerial ability worth?," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 27(2), pages 125-148, April.
    3. Jovanovic, Boyan, 1979. "Job Matching and the Theory of Turnover," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 87(5), pages 972-90, October.
    4. Heath, Chip & Tversky, Amos, 1991. " Preference and Belief: Ambiguity and Competence in Choice under Uncertainty," Journal of Risk and Uncertainty, Springer, Springer, vol. 4(1), pages 5-28, January.
    5. Victor R. Fuchs, 1982. "Self-Employment and Labor Force Participation of Older Males," Journal of Human Resources, University of Wisconsin Press, University of Wisconsin Press, vol. 17(3), pages 339-357.
    6. David Card & Thomas Lemieux, 1993. "Wage Dispersion, Returns to Skill, and Black-White Wage Differentials," Working Papers, Princeton University, Department of Economics, Industrial Relations Section. 691, Princeton University, Department of Economics, Industrial Relations Section..
    7. Miller, Robert A, 1984. "Job Matching and Occupational Choice," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 92(6), pages 1086-120, December.
    8. Carroll, Glenn R. & Mosakowski, Elaine M., 1987. "The Career Dynamics of Self-Employment," Institute for Research on Labor and Employment, Working Paper Series, Institute of Industrial Relations, UC Berkeley qt13p1n10b, Institute of Industrial Relations, UC Berkeley.
    9. Calvo, Guillermo A & Wellisz, Stanislaw, 1980. "Technology, Entrepreneurs, and Firm Size," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 95(4), pages 663-77, December.
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    11. Victor R. Fuchs, 1980. "Self-Employment and Labor Force Participation of Older Males (Revised)," NBER Working Papers 0584, National Bureau of Economic Research, Inc.
    12. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(5), pages 893-921, October.
    13. Holmes, Thomas J & Schmitz, James A, Jr, 1990. "A Theory of Entrepreneurship and Its Application to the Study of Business Transfers," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(2), pages 265-94, April.
    14. George J. Borjas, 1986. "The Self-Employment Experience of Immigrants," Journal of Human Resources, University of Wisconsin Press, University of Wisconsin Press, vol. 21(4), pages 485-506.
    15. Duchesneau, Donald A. & Gartner, William B., 1990. "A profile of new venture success and failure in an emerging industry," Journal of Business Venturing, Elsevier, Elsevier, vol. 5(5), pages 297-312, September.
    16. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, American Economic Association, vol. 79(3), pages 519-35, June.
    17. Johnson, William R, 1978. "A Theory of Job Shopping," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 92(2), pages 261-78, May.
    18. Morin, Roger A & Fernandez Suarez, Antonio, 1983. " Risk Aversion Revisited," Journal of Finance, American Finance Association, American Finance Association, vol. 38(4), pages 1201-16, September.
    19. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 87(4), pages 719-48, August.
    20. Killingsworth, Mark R, 1982. ""Learning by Doing" and "Investment in Training": A Synthesis of Two "Rival" Models of the Life Cycle," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 49(2), pages 263-71, April.
    21. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, Econometric Society, vol. 50(3), pages 649-70, May.
    22. Psacharopoulos, George & Layard, Richard, 1979. "Human Capital and Earnings: British Evidence and a Critique," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 46(3), pages 485-503, July.
    23. Cable, Daniel M. & Judge, Timothy A., 1996. "Person-Organization Fit, Job Choice Decisions, and Organizational Entry," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 67(3), pages 294-311, September.
    24. Glenn M. MacDonald, 1984. "New Directions in the Economic Theory of Agency," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 17(3), pages 415-40, August.
    25. Palsson, Anne-Marie, 1996. "Does the degree of relative risk aversion vary with household characteristics?," Journal of Economic Psychology, Elsevier, Elsevier, vol. 17(6), pages 771-787, December.
    26. George J. Borjas, 1986. "The Self-Employment Experience of Immigrants," NBER Working Papers 1942, National Bureau of Economic Research, Inc.
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    Cited by:
    1. Joern H. Block & Lennart Hoogerheide & Roy Thurik, 2009. "Education and Entrepreneurial Choice: An Instrumental Variables Analysis," Tinbergen Institute Discussion Papers, Tinbergen Institute 09-088/4, Tinbergen Institute, revised 23 Nov 2010.
    2. Burmeister-Lamp, Katrin & Lévesque, Moren & Schade, Christian, 2012. "Are entrepreneurs influenced by risk attitude, regulatory focus or both? An experiment on entrepreneurs' time allocation," Journal of Business Venturing, Elsevier, Elsevier, vol. 27(4), pages 456-476.
    3. Levesque, Moren & Schade, Christian, 2005. "Intuitive optimizing: experimental findings on time allocation decisions with newly formed ventures," Journal of Business Venturing, Elsevier, Elsevier, vol. 20(3), pages 313-342, May.
    4. Parker, Simon C., 2006. "Learning about the unknown: How fast do entrepreneurs adjust their beliefs?," Journal of Business Venturing, Elsevier, Elsevier, vol. 21(1), pages 1-26, January.
    5. Morgan, Horatio M., 2013. "Credit Unions, Consolidation and Business Formation: Evidence from Canadian provinces," MPRA Paper 52327, University Library of Munich, Germany.
    6. Morgan, Horatio M., 2013. "Credit Unions, Consolidation and Small Business Lending: Evidence from Canada," MPRA Paper 50813, University Library of Munich, Germany.
    7. Lu, Jiangyong & Tao, Zhigang, 2010. "Determinants of entrepreneurial activities in China," Journal of Business Venturing, Elsevier, Elsevier, vol. 25(3), pages 261-273, May.
    8. Verheul, I. & Block, J.H. & Burmeister-Lamp, K. & Thurik, A.R. & Tiemeier, H.W. & Turturea, R., 2013. "ADHD-like behavior and entrepreneurial intentions," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm ERS-2012-011-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    9. Werner Bönte & Monika Piegeler, 2013. "Gender gap in latent and nascent entrepreneurship: driven by competitiveness," Small Business Economics, Springer, Springer, vol. 41(4), pages 961-987, December.
    10. Hannu Tervo, 2004. "Self-employment dynamics in rural and urban labour markets," ERSA conference papers, European Regional Science Association ersa04p396, European Regional Science Association.
    11. Levesque, Moren & Minniti, Maria, 2006. "The effect of aging on entrepreneurial behavior," Journal of Business Venturing, Elsevier, Elsevier, vol. 21(2), pages 177-194, March.
    12. Minniti, Maria & Lévesque, Moren, 2008. "Recent developments in the economics of entrepreneurship," Journal of Business Venturing, Elsevier, Elsevier, vol. 23(6), pages 603-612, November.
    13. Mikaela Backman, 2013. "Who says life is over after 55?- New firm formation and an ageing population," ERSA conference papers, European Regional Science Association ersa13p58, European Regional Science Association.
    14. Lévesque, Moren & Schade, Christian, 2002. "Intuitive optimizing for time allocation decisions in newly formed ventures," SFB 373 Discussion Papers, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 2002,24, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    15. Dunkelberg, William & Moore, Carmen & Scott, Jonathan & Stull, William, 2013. "Do entrepreneurial goals matter? Resource allocation in new owner-managed firms," Journal of Business Venturing, Elsevier, Elsevier, vol. 28(2), pages 225-240.
    16. Backman, Mikaela & Karlsson, Charlie, 2013. "Who says life is over after 55? Entrepreneurship and an aging population," Working Paper Series in Economics and Institutions of Innovation, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies 325, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    17. Parker, Simon C., 2013. "Do serial entrepreneurs run successively better-performing businesses?," Journal of Business Venturing, Elsevier, Elsevier, vol. 28(5), pages 652-666.
    18. Fairchild, Gregory B., 2010. "Intergenerational ethnic enclave influences on the likelihood of being self-employed," Journal of Business Venturing, Elsevier, Elsevier, vol. 25(3), pages 290-304, May.

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