Entrepreneurial behavior under risk and uncertainty

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dc.contributor.advisorVergara Farías, Marcos
dc.contributor.authorBenítez Lavado, Ignacia
dc.coverage.spatialConcepción
dc.date.accessioned2025-04-25T15:21:40Z
dc.date.available2025-04-25T15:21:40Z
dc.date.issued2025
dc.descriptionTesis presentada a la Facultad de Economía y Negocios de la Universidad del Desarrollo para optar al grado de Doctor en Economía de Negocio.
dc.description.abstractIn this paper we study the impact of risk on time allocation decisions between occupations by modeling a hybrid entrepreneur who must decide how to allocate time between paid employment (labor) and working on a venture (entrepreneurship). We argue that hybrid entrepreneurs self-insure in response to income risk by managing the time they allocate between both occupations. We provide the conditions under which an uninsurable risk (in paid employment or the entrepreneurial sector) has a non-ambiguous precautionary effect on the optimal time allocated to each occupation, and these conditions are based on the strengths of risk aversion and downside risk aversion. We focus on three cases: when risk affects only the entrepreneurial sector, which is the classical case studied in the occupational choice literature; when risk affects only the paid employment sector; and finally, when risk affects both sectors, as we experienced during the recent pandemic.
dc.format.extent107 p.
dc.identifier.urihttps://hdl.handle.net/11447/9985
dc.language.isoen
dc.publisherUniversidad del Desarrollo. Facultad de Economía y Negocios
dc.subject040008C
dc.subjectHybrid entrepreneurship
dc.subjectRisk apportionment
dc.subjectPrecautionary effect
dc.subjectExports
dc.subjectBackground risk
dc.titleEntrepreneurial behavior under risk and uncertainty
dc.typeThesis
dcterms.accessRightsAcceso abierto

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