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Theory predicts that entrepreneurs have distinct attitudes toward risk and uncertainty, but empirical evidence is mixed. To better understand the unique behavioral characteristics of entrepreneurs and the causes of these mixed results, we perform a large "lab-in-the-field" experiment comparing entrepreneurs to managers (a suitable comparison group) and employees (n D 21288). The results indicate that entrepreneurs perceive themselves as less risk averse than managers and employees, in line with common wisdom. However, when using experimental incentivized measures, the differences are subtler. Entrepreneurs are only found to be unique in their lower degree of loss aversion, and not in their risk or ambiguity aversion. This combination of results might be explained by our finding that perceived risk attitude is not only correlated to risk aversion but also to loss aversion. Overall, we therefore suggest using a broader definition of risk that captures this unique feature of entrepreneurs: their willingness to risk losses. [ABSTRACT FROM AUTHOR]

Se presenta una lista de las 15 problemas que pueden afectar a los empresarios, incluyendo pensar que son inmunes a las regulaciones, la mala coordinación y la indiferencia a los otros empleados.

Starting a business involves risk and, thus, requires a risk-taking attitude. The concept of risk and entrepreneurship has been widely discussed in the entrepreneurship literature; most studies compare entrepreneurs with nonentrepreneurs such as managers or bankers. So far, little research exists on the risk attitudes of the different types of entrepreneurs-those who pursue a new business because of opportunity and those who do so through necessity. This study aims to fill this gap. Our particular focus is on individuals' motivations to start their businesses and the nonmonetary returns from entrepreneurship. The results show that opportunity entrepreneurs are more willing to take risks than necessity entrepreneurs. In addition, those who are motivated by creativity are more risk tolerant than other entrepreneurs. The study contributes to the literature about both risk attitudes of entrepreneurs and necessity and opportunity entrepreneurship. [ABSTRACT FROM AUTHOR]

The article offers the authors' views on redefining investment. They mention the significance of continuous investment in the advancement of technology which is considered another industrial revolution with unchanged evaluation leading to unexpected challenges of entrepreneurs and managers. An overview of its role as highly cost re-allocation and potential in resisting business cases is also presented.