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All about balance? A test of the Jack-of-all-Trades theory using military enlistment data

Author

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  • Aldén, Lina
  • Hammarstedt, Mats
  • Neuman, Emma

Abstract

According to the Jack-of-all-Trades theory, people with a balanced set of skills are more suitable for self-employment than are those without. In this paper we test this theory using Swedish military enlistment data. This data enables us to construct a measure of balance in abilities that, in comparison to measures used in previous research, is less contaminated by endogeneity problems. We find clear support for the Jack-of-all-Trades theory, in the sense that the likelihood of being self-employed is higher for individuals whose skills are balanced. In addition, their earnings from self-employment tend to be higher.

Suggested Citation

  • Aldén, Lina & Hammarstedt, Mats & Neuman, Emma, 2017. "All about balance? A test of the Jack-of-all-Trades theory using military enlistment data," Labour Economics, Elsevier, vol. 49(C), pages 1-13.
    • Handle: RePEc:eee:labeco:v:49:y:2017:i:c:p:1-13
    DOI: 10.1016/j.labeco.2017.09.001
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    Citations

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    Cited by:

    1. Björn Hårsman & Lars-Göran Mattsson & Vardan Hovsepyan, 2018. "The income return to entrepreneurship: theoretical model and outcomes for Swedish regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 61(3), pages 479-498, November.
    2. Hårsman, Björn & Mattsson, Lars-Göran, 2019. "Reconsidering the returns to entrepreneurship: Applying a modified version of Lazear’s occupational choice model," Working Paper Series in Economics and Institutions of Innovation 478, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    3. Vladasel, Theodor & Lindquist, Matthew J. & Sol, Joeri & van Praag, Mirjam, 2021. "On the origins of entrepreneurship: Evidence from sibling correlations," Journal of Business Venturing, Elsevier, vol. 36(5).
    4. Karol Kempa, 2022. "Task-specific human capital and returns to specialization: evidence from association football [All about balance? A test of the jack-of-all-trades theory using military enlistment data]," Oxford Economic Papers, Oxford University Press, vol. 74(1), pages 136-154.
    5. Rosendahl Huber, Laura & Sloof, Randolph & Van Praag, Mirjam & Parker, Simon C., 2020. "Diverse cognitive skills and team performance: A field experiment based on an entrepreneurship education program," Journal of Economic Behavior & Organization, Elsevier, vol. 177(C), pages 569-588.
    6. Björn Hårsman & Lars-Göran Mattsson, 2021. "Analyzing the returns to entrepreneurship by a modified Lazear model," Small Business Economics, Springer, vol. 57(4), pages 1875-1892, December.
    7. Elert, Niklas & Henrekson, Magnus, 2021. "Innovative Entrepreneurship as a Collaborative Effort: An Institutional Framework," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 17(4), pages 330-435, June.
    8. Alexander Krieger & Michael Stuetzer & Martin Obschonka & Katariina Salmela-Aro, 2022. "The growth of entrepreneurial human capital: origins and development of skill variety," Small Business Economics, Springer, vol. 59(2), pages 645-664, August.
    9. Pankaj C. Patel & Yoav Ganzach, 2019. "Returns to balance in cognitive skills for the self-employed: evidence from 18 countries," Small Business Economics, Springer, vol. 52(1), pages 89-109, January.

    More about this item

    Keywords

    Ability balance; Cognitive and non-cognitive ability; Earnings; Jack-of-all-Trades theory; Occupational choice; Self-employment;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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