The recently developed genome-wide association study (GWAS) design enables to identify genes specifically associated with economic outcomes. This is a promising new approach for economics research that we aim to apply to the choice for entrepreneurship. The present article is inspired by our ongoing work, describing the GWAS design and how it can be applied to study economic outcomes. To the best of our knowledge, this is the earliest attempt to apply GWAS to an economic outcome of a relatively general, and hence complex, nature and will reveal potentials and limitations of GWAS for economics research. We describe the GWAS design and illustrate the statistical multiple testing problem that arises in this context. Finally, the interpretation of findings from GWAS on economic outcomes is not straightforward and some guidelines are provided in this regard.
Koellinger, Philipp D.; van der Loos, Matthijs J.H.M.; Groenen, Patrick J.F.; Thurik, A. Roy; and Hofman, Albert
"GENOME-WIDE ASSOCIATION STUDIES IN ECONOMICS AND ENTREPRENEURSHIP RESEARCH: PROMISES AND LIMITATIONS (SUMMARY),"
Frontiers of Entrepreneurship Research: Vol. 31
, Article 3.
Available at: https://digitalknowledge.babson.edu/fer/vol31/iss21/3