Smart and Illicit: Who Becomes an Entrepreneur and Does it Pay?
---- Acknowledgements -----
We thank Gary Becker, Moshe Buchinsky, David De Meza, Stephen Durlauf, Luis Garicano, Naomi Hausman, Chinhui Juhn, Ed Lazear, Gustavo Manso, Casey Mulligan, Ignacio Palacios-Huerta, Luis Rayo, Ivo Welch, and seminar participants at the IDC, London School of Economics, NBER Summer Institute, Simon Fraser University, University of California-Berkeley, University College-London, and the University of Minnesota for helpful comments. Rubinstein thanks STICERD for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.