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Risk aversion, downside risk aversion, and the transition to entrepreneurship
Theory and Decision ( IF 0.9 ) Pub Date : 2020-11-20 , DOI: 10.1007/s11238-020-09786-w
Claudio A. Bonilla , Marcos Vergara

In this paper, we discuss the transition from secure employment to risky self-employment (entrepreneurship) caused by a small increase in wealth. Building on the apportioning risk literature, we prove that the transition from secure employment to risky entrepreneurship is based on a measure of the difference between the strength of downside risk aversion and the strength of risk aversion. This result highlights the idea that using the behavioral approach of risky lotteries to study entrepreneurship can produce different results from the traditional economic theory of entrepreneurship, which can have policy implications that must be considered with caution.



中文翻译:

风险规避,下行风险规避以及向企业家精神的过渡

在本文中,我们讨论了由财富的少量增加导致的从稳固就业到有风险的自谋职业(企业家精神)的过渡。根据风险分摊的文献,我们证明了从安全就业到有风险的企业家精神的过渡是基于对下行风险规避强度和风险规避强度之间差异的衡量。这个结果突出了这样一个想法,即使用风险彩票的行为方法来研究企业家精神可能会产生与传统企业家精神经济理论不同的结果,传统经济理论可能会引起政策影响,必须谨慎考虑。

更新日期:2020-12-23
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