Stars and Misfits: A Theory of Occupational Choice
In some datasets, the self-employed earn markedly less than wage earners, even though those at the top end of the distribution earn more than their wage-earning peers. This observation is explained by a model of entrepreneurial choice that blends Lazear's [Journal of Labor Economics, vol. 23, pp. 649-680 (2005)] notion that entrepreneurs must be skilled in a variety of activities with the strong complementarity between skills central to Kremer's [Quarterly Journal of Economics, vol. 108, pp. 551-575 (1993)] O-ring theory of production. We test some predictions of the model using two datasets, with mixed results.
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|Date of creation:||2008|
|Publication status:||Published in 6th Annual International Industrial Organization Conference, 2008, Arlington, United States|
|Note:||View the original document on HAL open archive server: https://hal-hec.archives-ouvertes.fr/hal-00654578|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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