Construct · 1 fields · 1 citations

risk-aversion theory of firm formation: a standalone construct

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Economics of entrepreneurship

a general equilibrium model in which less risk-averse people become entrepreneurs and the more risk-averse become workers, which sets the number and size of firms.

In economics of entrepreneurship, risk-aversion theory of firm formation refers to a general equilibrium model in which less risk-averse people become entrepreneurs and the more risk-averse become workers, which sets the number and size of firms. This meaning comes from Kihlstrom (1979) in Journal of Political Economy.[1]

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equilibrium4 fields · 4 citationsjingle · one word, four constructs model3 fields · 3 citationsjingle · one word, three constructs number3 fields · 6 citationsjingle · one word, three constructs

References

Kihlstrom, R. E., & Laffont, J. (1979). A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion. Journal of Political Economy, 87(4), 719-748. https://doi.org/10.1086/260790

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