Credit rationing or entrepreneurial risk aversion? A comment

Claudio Bonilla and Marcos Vergara

Economics Letters, 2013, vol. 120, issue 2, 329-331

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.

Keywords: Credit rationing; Risk aversion; Prudence; Entrepreneurship (search for similar items in EconPapers)
JEL-codes: G3 L2 M13 M2 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:120:y:2013:i:2:p:329-331

DOI: 10.1016/j.econlet.2013.05.008

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