  The paper investigates gender differences in entrepreneurship by exploiting a
large-scale land lottery in Oklahoma at the turn of the 20$^{\text{th}}$
century. Lottery winners claimed land in the order in which their names were
drawn, so the draw number is an approximate rank ordering of lottery wealth.
This mechanism allows for the estimation of a dose-response function, which
relates each draw number to the expected outcome under each draw. I estimate
dose-response functions on a linked dataset of lottery winners and land patent
records, and find the probability of purchasing land from the government to be
decreasing as a function of lottery wealth, which is evidence for the presence
of liquidity constraints. I find female winners were more effective in
leveraging lottery wealth to purchase additional land, as evidenced by
significantly higher median dose-responses compared to those of male winners.
For a sample of winners linked to the 1910 Census, I find that male winners
have higher median dose-responses compared to female winners in terms of farm
or home ownership. These results suggest that liquidity constraints may have
been more binding for female entrepreneurs in the market economy.
