Boomer Entrepreneurs: Age and Type

56 Pages Posted: 20 Mar 2017 Last revised: 17 Nov 2017

See all articles by Ting Zhang

Ting Zhang

University of Baltimore

Zoltan J. Acs

Schar School of Policy and Government

Date Written: November 17, 2017


This study extends the occupational choice model to explore age effects for eight different types of boomer entrepreneurs. The empirical study relies on monthly Current Population Survey data across 11 years (2006-2016). Multilevel mixed-effects logistic regression models are estimated to incorporate individual- and metropolitan-level effects. Among boomer entrepreneurs, we find that novice, opportunity novice, part-time, and unincorporated entrepreneur rates rise at higher ages (55 and above), with a slightly n-shaped age effect for non-novice/switcher (versus novice/switcher), necessity novice (versus opportunity), full-time (versus part-time), and incorporated (versus unincorporated) boomer entrepreneurs. We also identify determinants such as race, health, marital status, education, and work history, with opposite effects for each pair of entrepreneur types, and end by comparing the driving forces for boomer and non-boomer entrepreneurs.

Note: This study was funded by the Ewing Marion Kauffman Foundation. The content of this study is solely the responsibility of the authors.

Keywords: Boomer entrepreneurs, novice boomer entrepreneurs, existing boomer entrepreneurs, necessity boomer entrepreneurs, opportunity boomer entrepreneurs, full-time boomer entrepreneurs, part-time boomer entrepreneurs, incorporated boomer entrepreneurs, unincorporated boomer entrepreneurs

JEL Classification: J24, L26

Suggested Citation

Zhang, Ting and Acs, Zoltan J., Boomer Entrepreneurs: Age and Type (November 17, 2017). Available at SSRN: or

Ting Zhang (Contact Author)

University of Baltimore ( email )

1420 N. Charles St.
Baltimore, MD 21201-5779
United States

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Zoltan J. Acs

Schar School of Policy and Government ( email )

Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States
703-993-1780 (Phone)


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