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Credit rationing or entrepreneurial risk aversion? An alternative explanation for the Evans and Jovanovic finding
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UNSPECIFIED (2000) Credit rationing or entrepreneurial risk aversion? An alternative explanation for the Evans and Jovanovic finding. ECONOMICS LETTERS, 66 (2). pp. 235-240. ISSN 0165-1765.
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Abstract
Evans and Jovanovic ('EJ') [Evans, D., Jovanovic, B., 1989. An estimated model of entrepreneurial choice under Liquidity constraints. Journal of Political Economy 97 (4), 808-827.] claimed that in a credit market with collateral-based lending, credit rationing occurs if more collateral increases startups. Adjusting the model to incorporate uncertainty and decreasing absolute risk aversion, this relationship can be explained as a risk averter's response to the lowered riskiness of self- over wage-employment. (C) 2000 Elsevier Science S.A. All rights reserved.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
| Journal or Publication Title: | ECONOMICS LETTERS | ||||
| Publisher: | ELSEVIER SCIENCE SA | ||||
| ISSN: | 0165-1765 | ||||
| Official Date: | February 2000 | ||||
| Dates: |
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| Volume: | 66 | ||||
| Number: | 2 | ||||
| Number of Pages: | 6 | ||||
| Page Range: | pp. 235-240 | ||||
| Publication Status: | Published |
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