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Searching for the Entrepreneurial Personality: New Evidence and Avenues for Further Research

  • Caliendo, Marco

    ()

    (University of Potsdam)

  • Kritikos, Alexander S.

    ()

    (University of Potsdam, DIW Berlin)

What makes the entrepreneurial personality is the key question we seek to answer in the special issue of the Journal of Economic Psychology on "Personality and Entrepreneurship". The contributions are clustered around questions regarding the linkage between personality, socio-economic factors and entrepreneurial development. Results further explain the gender puzzle, while, at the same time, it is clear that stereotypes of what makes the ideal entrepreneur must be revisited. This conclusion is based on new insights into the effects that variables, such as risk tolerance, trust and reciprocity, the value for autonomy and also external role models, have on entrepreneurial decision making. On a more general note, it is clear that more informative longitudinal data sets at the individual level are needed in order to find conclusive answers. In an ideal world researchers would have access to data that includes personality characteristics and psychological traits, motivational factors and cognitive skills. In this respect the research community needs to find new ways to collect these data and make them available for entrepreneurship research.

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File URL: http://ftp.iza.org/dp5790.pdf
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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5790.

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Length: 14 pages
Date of creation: Jun 2011
Date of revision:
Publication status: published in: Journal of Economic Psychology, 2012, 33 (2), 319-324
Handle: RePEc:iza:izadps:dp5790
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  1. Marco Caliendo & Frank M. Fossen & Alexander S. Kritikos, 2008. "The Impact of Risk Attitudes on Entrepreneurial Survival," SOEPpapers on Multidisciplinary Panel Data Research 108, DIW Berlin, The German Socio-Economic Panel (SOEP).
  2. Mariassunta Giannetti & Andrei Simonov, 2009. "Social Interactions and Entrepreneurial Activity," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 18(3), pages 665-709, 09.
  3. Verheul, Ingrid & Thurik, Roy & Grilo, Isabel & van der Zwan, Peter, 2012. "Explaining preferences and actual involvement in self-employment: Gender and the entrepreneurial personality," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 325-341.
  4. Weitzel, Utz & Urbig, Diemo & Desai, Sameeksha & Sanders, Mark & Acs, Zoltan, 2010. "The good, the bad, and the talented: Entrepreneurial talent and selfish behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 64-81, October.
  5. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990. "The Allocation of Talent: Implicationsfor Growth," University of Chicago - George G. Stigler Center for Study of Economy and State 65, Chicago - Center for Study of Economy and State.
  6. Berg Joyce & Dickhaut John & McCabe Kevin, 1995. "Trust, Reciprocity, and Social History," Games and Economic Behavior, Elsevier, vol. 10(1), pages 122-142, July.
  7. Marco Caliendo & Frank Fossen & Alexander Kritikos, 2009. "Risk attitudes of nascent entrepreneurs–new evidence from an experimentally validated survey," Small Business Economics, Springer, vol. 32(2), pages 153-167, February.
  8. Urbig, Diemo & Weitzel, Utz & Rosenkranz, Stephanie & Witteloostuijn, Arjen van, 2012. "Exploiting opportunities at all cost? Entrepreneurial intent and externalities," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 379-393.
  9. Friedel Bolle, 1998. "Rewarding Trust: An Experimental Study," Theory and Decision, Springer, vol. 45(1), pages 83-98, August.
  10. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  11. Robert E. Lucas Jr., 1978. "On the Size Distribution of Business Firms," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 508-523, Autumn.
  12. Caliendo, Marco & Fossen, Frank & Kritikos, Alexander, 2012. "Trust, positive reciprocity, and negative reciprocity: Do these traits impact entrepreneurial dynamics?," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 394-409.
  13. Cramer, J. S. & Hartog, J. & Jonker, N. & Van Praag, C. M., 2002. "Low risk aversion encourages the choice for entrepreneurship: an empirical test of a truism," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 29-36, May.
  14. Carter, Nancy M. & Gartner, William B. & Shaver, Kelly G. & Gatewood, Elizabeth J., 2003. "The career reasons of nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(1), pages 13-39, January.
  15. Robert Fairlie & Alicia Robb, 2008. "Gender Differences in Business Performance: Evidence from the Characteristics of Business Owners Survey," Working Papers 08-39, Center for Economic Studies, U.S. Census Bureau.
  16. 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, vol. 87(4), pages 719-48, August.
  17. Daron Acemoglu, 1993. "Reward Structures and the Allocation of Talent," CEP Discussion Papers dp0143, Centre for Economic Performance, LSE.
  18. Cox, James C., 2004. "How to identify trust and reciprocity," Games and Economic Behavior, Elsevier, vol. 46(2), pages 260-281, February.
  19. Verheul, Ingrid & Thurik, Roy, 2001. " Start-Up Capital: "Does Gender Matter?"," Small Business Economics, Springer, vol. 16(4), pages 329-45, June.
  20. Niels Bosma & Jolanda Hessels & Veronique Schutjens & Mirjam van Praag & Ingrid Verheul, 2011. "Entrepreneurship and Role Models," Tinbergen Institute Discussion Papers 11-061/3, Tinbergen Institute.
  21. Russell S. Sobel, 2006. "Testing Baumol: Institutional Quality and the Productivity of Entrepreneurship," Working Papers 06-06 Classification-, Department of Economics, West Virginia University.
  22. Forbes, Daniel P., 2005. "Are some entrepreneurs more overconfident than others?," Journal of Business Venturing, Elsevier, vol. 20(5), pages 623-640, September.
  23. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
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