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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.

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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:
DateEvent
February 2000UNSPECIFIED
Volume: 66
Number: 2
Number of Pages: 6
Page Range: pp. 235-240
Publication Status: Published

Data sourced from Thomson Reuters' Web of Knowledge

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