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Original Articles

On the simultaneity bias in the relationship between risk attitudes, entry into entrepreneurship and entrepreneurial survival

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ABSTRACT

We consider the simultaneity bias when examining the effect of individual risk attitudes on entrepreneurship. We demonstrate that entry into self-employment is related to changes in risk attitudes. We further show that these changes are correlated with the probability to remain in entrepreneurship.

JEL CLASSIFICATION:

Disclosure statement

No potential conflict of interest was reported by the authors.

Notes

1 risk_gen and risk_fin are measured similarly to risk_occ. For risk_lot, respondents are asked to indicate on a 6-point scale which fraction of a hypothetical lottery win they would invest in risky assets.

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