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Autor:innen: 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
ADB Economics Working Paper Series No. 614
Verlag: 
Asian Development Bank (ADB), Manila
Zusammenfassung: 
This paper develops a theoretical framework to explain the limited effect of business development programs (BDPs) on entrepreneurs' profits. We argue that a mismatch between a BDP's narrow focus on business-promoting strategies and the wider context in which microentrepreneurs operate can limit the impact of business training. In our framework, entrepreneurs are ambiguity averse and have multiple sources of income (e.g., business and wage incomes). We show that for a sufficiently ambiguity-averse entrepreneur with multiple income sources, efficient training can result in a decline in expected profit. Notably, when the wider context (multiple income sources, ambiguity aversion) is considered, the business training impact is limited and can result in a posttraining expected profit decline. This limited impact is caused by the diversifying role that the business income plays in household finances.
Schlagwörter: 
ambiguity aversion
business development programs
microentrepreneurship
JEL: 
D10
O12
O16
Persistent Identifier der Erstveröffentlichung: 
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Dokumentart: 
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