NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Entrepreneurship, Happiness and Supernormal Returns: Evidence from Britain and the US

David Blanchflower, Andrew Oswald

NBER Working Paper No. 4228
Issued in December 1992
NBER Program(s):   LS

Do entrepreneurs earn supernormal returns, or does competitive pressure ensure that entrepreneurs receive the same utility level as workers? If those who run their own businesses get supernormal returns (or 'rents') they should be happier than those who work as employees. The paper tests this hypothesis. It uses survey data from Britain and the USA to show that, in comparison with those in regular forms of employment, the self-employed report significantly higher levels of utility as proxied by overall satisfaction data.

download in pdf format
   (307 K)

download in djvu format
   (203 K)

email paper

This paper is available as PDF (307 K) or DjVu (203 K) (Download viewer) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Users who downloaded this paper also downloaded these:
Lazear w9109 Entrepreneurship
Blanchflower and Oswald w3252 What Makes an Entrepreneur? Evidence on Inheritance and Capital Constraints
Blanchflower w10286 Self-Employment: More may not be better
Ardagna and Lusardi w14012 Explaining International Differences in Entrepreneurship: The Role of Individual Characteristics and Regulatory Constraints
Borts The Estimation of Produced Income by State and Region
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us