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Willingness to take risk is an important characteristic of entrepreneurship and a crucial factor for economic growth. Data show that compared to their US counterparts, people in Europe, and even more so in Eastern Europe, are less willing to undertake the risk of building their own business. The experimental data presented in this paper demonstrate that people can use even a single episode from their own past experience (or from a newspaper story) where they or someone else acted in a riskydoi:10.1504/gber.2007.013706 fatcat:mcnaswpi5vgqpetyjo6kivko4q