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Stepping Forward: Personality Traits, Choice of Profession, and the Decision to Become Self-Employed

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  • Sorgner, Alina
  • Fritsch, Michael

Abstract

We argue that entrepreneurial choice proceeds in at least two steps, with vocational choice nearly always preceding choice of employment status, whether that be self-employment or dependent employment. Since the two decisions are interrelated, analysis of entrepreneurial choice as a single act may lead to inconsistent estimates of the factors that determine the decision to launch a business venture. Our empirical analysis utilizes a bivariate probit model that jointly estimates both decisions. The results support our argument that entrepreneurial choice is a two-stage decision process. --

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Paper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79768.

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Date of creation: 2013
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Handle: RePEc:zbw:vfsc13:79768

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  5. Caliendo, Marco & Fossen, Frank M. & Kritikos, Alexander S., 2006. "Risk Attitudes of Nascent Entrepreneurs: New Evidence from an Experimentally-Validated Survey," IZA Discussion Papers 2168, Institute for the Study of Labor (IZA).
  6. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 18(2), pages 282-305, April.
  7. William H. Greene, 1998. "Gender Economics Courses in Liberal Arts Colleges: Further Results," The Journal of Economic Education, Taylor & Francis Journals, Taylor & Francis Journals, vol. 29(4), pages 291-300, January.
  8. Bauernschuster, Stefan & Falck, Oliver & Heblich, Stephan, 2009. "Training and innovation," Munich Reprints in Economics, University of Munich, Department of Economics 20136, University of Munich, Department of Economics.
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  12. Thomas Dunn & Douglas Holtz-Eakin, 1996. "Financial Capital, Human Capital, and the Transition to Self-Employment:Evidence from Intergenerational Links," NBER Working Papers 5622, National Bureau of Economic Research, Inc.
  13. Fritsch, Michael & Kritikos, Alexander S. & Rusakova, Alina, 2012. "Who Starts a Business and Who is Self-Employed in Germany," IZA Discussion Papers 6326, Institute for the Study of Labor (IZA).
  14. Dohmen, Thomas J. & Falk, Armin & Huffman, David & Sunde, Uwe & Schupp, Jürgen & Wagner, Gert G., 2009. "Individual risk attitudes: Measurement, determinants and behavioral consequences," Munich Reprints in Economics, University of Munich, Department of Economics 20049, University of Munich, Department of Economics.
  15. Parker,Simon C., 2009. "The Economics of Entrepreneurship," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521728355.
  16. Gathmann, Christina & Schönberg, Uta, 2007. "How General Is Human Capital? A Task-Based Approach," IZA Discussion Papers 3067, Institute for the Study of Labor (IZA).
  17. Alina Sorgner & Michael Fritsch, 2013. "Occupational Choice and Self-Employment: Are They Related?," SOEPpapers on Multidisciplinary Panel Data Research 533, DIW Berlin, The German Socio-Economic Panel (SOEP).
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  20. Gert G. Wagner & Joachim R. Frick & Jürgen Schupp, 2007. "The German Socio-Economic Panel Study (SOEP): Scope, Evolution and Enhancements," SOEPpapers on Multidisciplinary Panel Data Research 1, DIW Berlin, The German Socio-Economic Panel (SOEP).
  21. Bernard F. Lentz & David N. Laband, 1989. "Why So Many Children of Doctors Become Doctors: Nepotism vs. Human Capital Transfers," Journal of Human Resources, University of Wisconsin Press, vol. 24(3), pages 396-413.
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