Entrepreneurial Risk Attitude in Micro and Small Enterprises: Evidence From Urban Ethiopia
Bibliographic record
Abstract
We analyze the risk attitude of women and men entrepreneurs in the micro and small enterprises (MSEs) and investigate the factors that influence the risk attitude of MSE owners. The empirical analysis of the study consists of two parts. First, we use a moment-based approach to estimate the risk preferences of male and female entrepreneurs. Second, we estimate a regression model to understand the correlates of risk attitude and decompose the gender difference in risk aversion using the Oaxaca-Blinder technique. The results indicate that MSE entrepreneurs are risk-averse, with a relative risk premium of 1.5%. We also find that females are slightly more risk-averse than male entrepreneurs. Our regression estimates show that entrepreneurs’ risk attitude is significantly correlated with the age and experience of the entrepreneur, marital status, education level and financial literacy, wealth, sector, and business form. Furthermore, the predictor variables significantly explain the gender difference in risk aversion, while the unexplained component is insignificant. This suggests that the gender difference in risk aversion is due to disparities in socioeconomic factors than a biological difference in risk preference.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".