Opportunity Costs and Entrepreneurial Activity

  title={Opportunity Costs and Entrepreneurial Activity},
  author={Muller and Iain M. Cockburn},
We provide empirical support for the hypothesis that the lower the EXECUTIVE opportunity costs o f individuals, the more likely they are to undertake S U M M A R Y entrepreneurial activity. This prediction emerged from earlier theoretical work in which we modeled the decision of individuals to develop new ventures on their own, seek the backing of a venture capitalist, or remain as paid employees. We use a large sample, drawn from the 1992 Canadian Labor Market Activity Survey. We find that… CONTINUE READING
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