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Entrepreneurship

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Author Info
Edward P. Lazear (Hoover Institution and Stanford University)

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Abstract

The theory below is that entrepreneurs must be jacks-of-all-trades who need not excel in any one skill but are competent in many. A model of the choice to become an entrepreneur is presented. The primary implication is that individuals with balanced skills are more likely than others to become entrepreneurs. Using data on Stanford alumni, the predictions are tested and found to hold. Those who have varied work and educational backgrounds are much more likely to start their own businesses than those who have focused on one role at work or concentrated in one subject at school.

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File URL: http://www.journals.uchicago.edu/cgi-bin/resolve?JOLE230401
File Format: application/pdf
File Function: main text
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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 23 (2005)
Issue (Month): 4 (October)
Pages: 649-680
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ucp:jlabec:v:23:y:2005:i:4:p:649-680

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  1. Junfu Zhang, 2007. "The Advantage of Experienced Start-Up Founders in Venture Capital Acquisition: Evidence from Serial Entrepreneurs," IZA Discussion Papers 2964, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Bettina Müller, 2006. "Human Capital and Successful Academic Spin-Off," Working Papers of the Research Group Heterogenous Labor 06-14, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim. [Downloadable!]
  3. Acs, Zoltan & Audrestch, David & Braunerhjelm, Pontus & Carlsson, Bo, 2007. "The Knowledge Spillover Theory of Entrepreneurship," Working Paper Series in Economics and Institutions of Innovation 77, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies. [Downloadable!]
    Other versions:
  4. Áureo de Paula & José A. Scheinkman, 2007. "The Informal Sector," NBER Working Papers 13486, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Paul Oyer, 2006. "The Making of an Investment Banker: Macroeconomic Shocks, Career Choice, and Lifetime Income," NBER Working Papers 12059, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Olmo Silva, 2006. "The Jack-of-All-Trades Entrepreneur: Innate Talent or Acquired Skill?," IZA Discussion Papers 2264, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Luigi Guiso & Fabiano Schivardi, 2007. "What determines entrepreneurial clusters?," Economics Working Papers ECO2007/48, European University Institute. [Downloadable!]
    Other versions:
  8. Müller, Bettina, 2006. "Human capital and successful academic spin-off," ZEW Discussion Papers 06-81, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  9. Thomas Astebro & Peter Thompson, 2007. "Entrepreneurs: Jacks of all Trades or Hobos?," Working Papers 0705, Florida International University, Department of Economics. [Downloadable!]
  10. Braunerhjelm, Pontus & Svensson, Roger, 2007. "The Inventor’s Role: Was Schumpeter Right?," Working Paper Series 690, Research Institute of Industrial Economics. [Downloadable!]
    Other versions:
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This page was last updated on 2009-11-21.


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