Research Project Title: “Career Choice Problem: Modelling Expected Utility Function.” Research Summary (Abstract) 1. Research project objectives In the era of dynamic changes in labour market and existence of new phenomena among its participants like job-hopping and down-shifting, the problem of career choice seems to gain on importance not only for people at the beginning of their career path but also for governments striving to encourage people to become entrepreneurs by implementing various incentive-based policies. For the purpose of this research career choice is defined as a selection between becoming an entrepreneur or being an employee. The main research objectives are to find out how younger participants of the labour market (master studies graduates) make such decisions (by modelling expected utility functions of presented job offers), what drives them in particular (what job attributes are most and least important to them and what trade-offs do they make) and how likely are they to become entrepreneurs at some point of their career (multi-item analysis of i.a. Entrepreneurial Intention (EI) and Entrepreneurial Self-Efficacy (ESE)). 2. Research project methodology The research project has been inspired by the theoretical model “Career Choice as a Utility Maximizing Response” by Douglas and Shepherd (2000). The model assumes on the ground of Expected Utility Theory that such choices are being made by maximisation of the utility derived from job attributes. So far only one empirical study has been conducted based on this model and what is more – by the authors themselves (Douglas, Shepherd, 2002). Having performed a detailed literature review on job attributes, 93 unique attributes were identified. The number of selected ones had to be limited due to the comprehension of a questionnaire to be used. Finally, eight were selected in such a way that they could fit description of being an entrepreneur as well as description of being an employee in a company. Namely: Effort, Interdependence of work performance and income, Decision making, Income, Being able to see a job through to completion, Sense of responsibility, Legal and financial responsibility, Availability. New utility maximising model has been created using the attributes mentioned above. In order to model utility functions based on the new model, the Adaptive Choice Based Conjoint Analysis (ACBC) method has been selected. Although the method is mainly used in marketing research, it is a