An empirical analysis of self‐employment in the U.K.
基于Knight的风险调整收入机会理论，构建自雇与受雇选择模型，利用1978年英国家庭调查数据估计收入方程和Probit模型，发现自雇概率正向取决于两部门收入差，且教育和年龄是重要决定因素。
Abstract The paper formulates a self‐employment/paid‐employment choice problem that draws upon Knight's notion that the individual responds to the risk‐adjusted relative earnings opportunities in each sector. Based on a development of such choice‐theoretic considerations, an econometric model is developed with the purpose of empirically examining the determinants of self‐employment. The model features simultaneous determination of employment status and earnings, which allows for self‐selectivity. The model is estimated using a sample of 4762 individuals from the General Household Survey for 1978. The estimation of the earnings equation enables a calculation of the self‐employment/paid‐employment earnings differential and the estimated probit equation for self‐employment/paid‐employment status facilitates the prediction of the probability of self‐employment. The paper finds that there is positive selection bias in the observed earnings of employees, that the probability of self‐employment depends positively on the earnings difference between the two sectors and that education and age are significant determinants of self‐employment.