This study aims to revisit “Career Choice as a Utility Maximising Response Model” and propose a new modern one to reignite the academic dialogue on utility-based career choice models in entrepreneurship literature.
The model is empirically verified on two cohorts representing individuals at different life stages i.e. 239 final year master’s students and 135 individuals between 26 and 35 years of age with at least five years of work experience. Differences between groups and individuals with high/low entrepreneurial intentions are discussed.
Among all individuals from both cohorts, the three most important job attributes (apart from income) were: legal and financial responsibility > availability > interdependence of work performance and income.
While using multi-level orthogonal design and adaptive choice-based conjoint analysis with Hierarchical Bayesian estimation, the author shifts the methodological paradigm by showing non-linearity of preferences.
