Selected Essays of Dean A. Shepherd
Chapter 16: Self-Employment as a Career Choice: Attitudes, Entrepreneurial Intentions, and Utility Maximization
Previously, research on the question of why people choose entrepreneurship as a career option has been based predominantly on the disciples of psychology and sociology. More recently, there have been important contributions from an economics perspective. Baumol (1990, p. 894) proposed that "how the entrepreneur acts at a given time and place depends heavily on . . . the reward structure in the economy . . . (or) the prevailing rules of the game that govern the payoff" to entrepreneurship.
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