Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152349
Authors: 
Orazem, Peter F.
Jolly, Robert
Yu, Li
Year of Publication: 
2015
Citation: 
[Journal:] IZA Journal of Labor Economics [ISSN:] 2193-8997 [Volume:] 4 [Year:] 2015 [Pages:] 1-27
Abstract: 
By allowing agents to switch from entrepreneurship to wage work and vice versa over the life cycle, this study proposes a dynamic Jacks-of-All-Trades (JAT) model where entrepreneurs invest in highly varied skills to manage their business. We simultaneously endogenize human capital investment and occupational decisions. Using the survey data of Iowa State alumni graduating between 1982 and 2006, we find that the probability of selecting a broad curriculum, having a more varied career, and becoming an entrepreneur are jointly positively correlated. Academic diversity is found to be initially important in starting a business shortly after completing schooling, but its importance declines over time.
Subjects: 
Entrepreneurship
Jacks-of-all-trades
Educational experiences
Working experience
Entry
JEL: 
J24
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/4.0/
Document Type: 
Article
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