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Credit rationing or entrepreneurial risk aversion? A comment

Marcos Vergara () and Claudio Bonilla

No 5, Past Working Papers from Universidad del Desarrollo, School of Business and Economics

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)
Pages: 3 pages
Date: 2012-12, Revised 2013-05
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Citations: View citations in EconPapers (5) Track citations by RSS feed

Published in Economics Letters, August 2013, pages 329-331.

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http://repositorio.udd.cl/bitstream/handle/11447/57/pwp05.pdf?sequence=1 First version, 2007

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