| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21644 |
| 来源ID | Working Paper 21644 |
| Wealth, Tastes, and Entrepreneurial Choice | |
| Erik G. Hurst; Benjamin W. Pugsley | |
| 发表日期 | 2015-10-19 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | The non-pecuniary benefits of managing a small business are a first order consideration for many nascent entrepreneurs, yet the preference for business ownership is mostly ignored in models of entrepreneurship and occupational choice. In this paper, we study a population with varying entrepreneurial tastes and wealth in a simple general equilibrium model of occupational choice. This choice yields several important results: (1) entrepreneurship can be thought of as a normal good, generating wealth effects independent of financing constraints, (2) non-pecuniary entrepreneurs select into small scale firms, (3) subsidies designed to stimulate more business entry can have regressive distributional effects. Despite abstracting from other important considerations such as risk, financing constraints, and innovation, we show that non-pecuniary compensation is particularly relevant in discussions of small businesses. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w21644 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579319 |
| 推荐引用方式 GB/T 7714 | Erik G. Hurst,Benjamin W. Pugsley. Wealth, Tastes, and Entrepreneurial Choice. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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