Credit rationing or entrepreneurial risk aversion? A comment
Date
2013
Type:
Article
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Abstract
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence, and prudence is consistent with DARA, IARA or CARA.
Description
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Citation
Economics Letters, 2013; 120(2): 329-331
Keywords
Credit rationing, Risk aversion, Prudence, Entrepreneurship