The effect of aging on entrepreneurial behavior

Moren Lévesque, Maria Minniti

Research output: Contribution to journalArticle

374 Scopus citations

Abstract

Empirical evidence shows that younger individuals are more likely to start a new firm than older ones. As a result, the age distribution of a population may be important for the rate of new firm creation. Building upon Becker's theory of time allocation, we present a model in which individuals select a career path according to the dynamic interplay of age, wealth and risk aversion. Our analysis complements existing literature on the motivations of entrepreneurial behavior and discusses the potential implications of age for individuals' employment status choices.

Original languageEnglish (US)
Pages (from-to)177-194
Number of pages18
JournalJournal of Business Venturing
Volume21
Issue number2
DOIs
StatePublished - Mar 1 2006
Externally publishedYes

Keywords

  • Aging
  • Career choice
  • Decision model
  • Entrepreneurship
  • Time allocation

ASJC Scopus subject areas

  • Business and International Management
  • Management of Technology and Innovation

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