Role Models or Individual Consulting: The Impact of Personalizing Micro-entrepreneurship Training
- American Economic Journal: Applied Economics (Forthcoming)
Using a randomized experiment in Chile we study the impact role models have in the context of a training program for micro- entrepreneurs. We show that being in a group randomly chosen to be visited by a successful alumnus of the program increases house- hold income one year after, mostly due to increased business participation and business income. We also randomized the provision of personalized “consulting sessions” vis-a-vis group sessions, and observe similar effects on income, with the role model intervention being significantly more cost effective and better suited for less experienced businesses.
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