@article{CaliendoFossenKritikos2012,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Trust, positive reciprocity, and negative reciprocity Do these traits impact entrepreneurial dynamics?},
  series = {Journal of economic psychology : research in economic psychology and behavioral economics},
  volume    = {33},
  journal   = {Journal of economic psychology : research in economic psychology and behavioral economics},
  number    = {2},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0167-4870},
  doi       = {10.1016/j.joep.2011.01.005},
  pages     = {394 -- 409},
  year      = {2012},
  abstract  = {Experimental evidence reveals that there is a strong willingness to trust and to act in both positively and negatively reciprocal ways. So far it is rarely analyzed whether these variables of social cognition influence everyday decision making behavior. We focus on entrepreneurs who are permanently facing exchange processes in the interplay with investors, sellers, and buyers, as well as needing to trust others and reciprocate with their network. We base our analysis on the German Socio-Economic Panel with its recently introduced questions about trust, positive reciprocity, and negative reciprocity to examine the extent that these variables influence the entrepreneurial decision processes. More specifically, we analyze whether (i) the willingness to trust other people influences the probability of starting a business; (ii) trust, positive reciprocity, and negative reciprocity influence the exit probability of entrepreneurs; and (iii) willingness to trust and to act reciprocally influences the probability of being an entrepreneur versus an employee or a manager. Our findings reveal that, in particular, trust impacts entrepreneurial development. Interestingly, entrepreneurs are more trustful than employees, but much less trustful than managers.},
  language  = {en}
}
@article{CaliendoFossenKritikos2014,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Personality characteristics and the decisions to become and stay self-employed},
  series = {Small business economics : an international journal},
  volume    = {42},
  journal   = {Small business economics : an international journal},
  number    = {4},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-013-9514-8},
  pages     = {787 -- 814},
  year      = {2014},
  abstract  = {Based on a large, representative German household panel, we investigate to what extent the personality of individuals influences the entry decision into and the exit decision from self-employment. We reveal that some traits, such as openness to experience, extraversion, and risk tolerance affect entry, but different ones, such as agreeableness or different parameter values of risk tolerance, affect exit from self-employment. Only locus of control has a similar influence on the entry and exit decisions. The explanatory power of all observed traits among all observable variables amounts to 30 \%, with risk tolerance, locus of control, and openness having the highest explanatory power.},
  language  = {en}
}