Self-Employment as a Career Choice: Attitudes, Entrepreneurial Intentions, and Utility Maximization

TLDR

Entrepreneurial attitudes toward income, independence, risk, and work effort are commonly used to characterize entrepreneurs. The study examines how attitudes toward income, independence, risk, and work effort influence career choice and the intention to start a business. Conjoint analysis was employed to assess the importance and impact of these attitudes on job selection and entrepreneurial intention. Higher expected job utility was associated with greater independence, risk, and income, and stronger entrepreneurial intention correlated with higher risk tolerance and preference for independence.

Abstract

This paper investigates the relationship between career choice and people's attitudes toward income, independence, risk, and work effort. Entrepreneurs are often described in terms of the strength or weakness of their attitudes in these dimensions. Conjoint analysis was used to determine the significance and nature of these attitudes in choosing one Job over another. We also investigated the effect these attitudes have on the intention to start one's own business. Significant relationships were found between the utility expected from a job and the independence, risk, and income it offered. Similarly, the strength of intention to become self-employed was significantly related to the respondents' tolerance for risk and their preference for independence.