Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self‐Employment

By Barton H. Hamilton. Journal of Political Economy, 2000

2,064 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/bc16509da260140c051e11f03be632d6f76623ce

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Citations in the corpus

Misallocation of Capital in a Model of Endogenous Financial Intermediation and Insurance (2011, neutral): “Not only face entrepreneurs high risk in their occupation, it also has a future value compared to initial income: Hamilton (2000) finds evidence that most entrepreneurs enter and persist in business despite the fact that they have lower initial earnings in paid employment, with a median earnings…”
Team Incentives and Worker Heterogeneity: An Empirical Analysis of the Impact of Teams on Productivity and Participation (2003, background): “In addition, n. 20 shows that the pay distribution at Koret was similar to that available outside the firm. workers also show that many individuals are willing to accept a 35 percent or more decline in earnings in exchange for the opportunity to “be their own boss” (Hamilton 2000).”
Entrepreneurship and structural economic transformation (2008, background): “We can extend this to take into account non-pecuniary benefits of entrepreneurship (since entrepreneurial rents are often found to be less than returns from wage employment; see, for example, Hamilton 2000 ), but for the sake of simplicity leave this for future elaboration.”
The Economics of Entrepreneurship: What We Know and What We Don't (2005, methodology): “Hamilton [76] applied quantile 3.2.6.”
What Do Small Businesses Do? (2011, positive): “with the work of Hamilton (2000) that shows the median small business owner receives lower accumulated earnings over time relative to paid employment.”
Identity and entrepreneurship: do school peers shape entrepreneurial intentions? (2010, background): “Arrow (1962) provides some weightier economic reasoning when he argues that, under uncertainty, information becomes a commodity with economic value, implying that those individuals who find a way to overcome uncertainty can appropriate a pioneer rent that is itself an incentive to engage in entrepre”
Personality Traits of Entrepreneurs: A Review of Recent Literature (2018, positive): “In a famous paper, Hamilton (2000) estimates that U.S. entrepreneurs have both lower initial earnings and lower earnings growth than in paid employment, with a median earnings differential of 35 percent for individuals in business for 10 years. This differential persists across three alternative mea”
The institutions of economic freedom and entrepreneurship: evidence from panel data (2008, background): “employment may provide untaxed non-peculiarity returns such as, for example, flexible working hours or status ( Hamilton, 2000 ).”
Determinants of job satisfaction: a European comparison of self-employed and paid employees (2011, positive): “Self-employment is often associated with lower levels of economic utility than wage employment (Hamilton, 2000; Van Praag and Versloot, 2007).”
The Entrepreneurial Organization of Heterogeneous Capital (2007, background): “Building on his theory that the value of all goods is determined by their ability to satisfy consumer wants (i.e. their marginal utility), Menger showed that the value of the higherorder goods is given or ‘imputed’ by the value of the lower-order goods they produce. Moreover, because certain capital”
Experimentation and the Returns to Entrepreneurship (2016, methodology): “Cagetti and De Nardi (2006), Hintermaier and Steinberger (2005), Vereshchagina and Hopenhayn (2009), Campanale (2010), and Poschke (2013) develop dynamic models of occupational choice in which workers can choose to become entrepreneurs and learn about their entrepreneurial skills.”
Why are some people more likely to become small-businesses owners than others: Entrepreneurship entry and industry-specific barriers (2014, background): “Drawn by such non-pecuniary perks as their desire for flexible work hours and greater personal autonomy, entrepreneurship is viewed as an appealing occupational choice, one where attractive non-pecuniary benefits attract the wealthy (Hamilton, 2000; Hurst and Lusardi, 2004).”
Social Interactions and Entrepreneurial Activity (2009, positive): “Hamilton (2000) finds that entrepreneurs enter and persist in business despite the fact that they have both lower initial earnings and lower earning growth than they would as employees.”