The invisible hand plays dice: multiple equilibria in sects markets
AbstractReligious participation is much more widespread in the United Statesthan in Europe, while Europeans tend to view sects more suspiciouslythan Americans We propose an explanation for these patterns withoutassuming differences in preferences or market fundamentals We study areligious market where both demand and supply of spiritual services areendogenous Such markets may have multiple equilibria Further, equilibriawith more sects result in higher welfare and lower membership costs, assecular societies tend to host on average more demanding sects
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Bibliographic InfoArticle provided by Springer in its journal Public Choice.
Volume (Year): 145 (2010)
Issue (Month): 3 (December)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100332
Sects; Religion; Sects markets; Z12; L89; J24; D71;
Other versions of this item:
- Poutvaara, Panu & Wagener, Andreas, 2010. "The invisible hand plays dice: multiple equilibria in sects markets," Munich Reprints in Economics 19822, University of Munich, Department of Economics.
- Z12 - Other Special Topics - - Cultural Economics - - - Religion
- L89 - Industrial Organization - - Industry Studies: Services - - - Other
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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