Attitudes toward risk and self-employment of young workers

Personality Traits of Entrepreneurs: A Review of Recent Literature

“…These conditions are not sufficient for assigning causal roles for personality traits-a very daunting task-but they are probably necessary ingredients. Ahn (2010) and Levine and Rubenstein (2017) are examples of innovative and impressive studies that utilize the National Longitudinal Survey of Youth (NLSY), although the NLSY's small sample generates constraints. Hvide and Panos (2014) and Caliendo et al (2014) also show frontier examples that build upon longitudinal administrative records and national surveys.…”

Entry into Entrepreneurship, Endogenous Adaption of Risk Attitudes and Entrepreneurial Survival

“…While the majority of empirical studies focus on research into the effects of risk attitudes on the decision to become an entrepreneur (Cramer et al, 2002;Fairlie, 2002;Kan and Tsai, 2006;Ahn, 2010;Caliendo et al, 2010Caliendo et al, , 2014, the question of whether risk attitudes affect survival has gained less attention. The first economic study to explore this relationship was conducted by Caliendo et al (2010).…”

“…Regarding entry, a higher willingness to take risk is supposed to increase the probability of starting a business Cramer et al, 2002;Caliendo et al, 2009;Ahn, 2010;Caliendo et al, 2014). The relationship between risk attitudes and survival is not expected to be linear but to follow an inverse u-shaped curve (Chell et al, 1991;Caliendo et al, 2010Caliendo et al, , 2014.…”

“…Based upon the assumption of (short-term) stability of risk attitudes, they use one-point measures in time to identify differences between groups of entrepreneurs and non-entrepreneurs (Barsky et al, 1997;Ahn, 2010;Caliendo et al 2009Caliendo et al , 2010Caliendo et al , 2014. That is, risk attitudes are measured when persons are already active in their current employment status, explaining entry and survival ex-post (see Caliendo and Kritikos [2008] for similar arguments in the context of personality traits and entrepreneurial entry).…”

Risk Preferences and Misconduct: Evidence from Politicians

“…He used his success as a springboard into politics where, amidst myriad other scandals, he was ultimately convicted of money-laundering. 1 Consider Hillary Clinton's history as another example: in 1978, she engaged in some highly speculative commodities investment trading, and ended up turning $1,000 into an impressive $100,000 over the course of only ten months. However, she was later involved in a plethora of scandals: from the Whitewater scandal to the mass termination of White House Travel O¢ ce employees ("Travelgate") to her personal email use.…”