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The invisible hand plays dice: multiple equilibria in sects markets

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  • Panu Poutvaara

    ()

  • Andreas Wagener

    ()

Abstract

Religious 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

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 145 (2010)
Issue (Month): 3 (December)
Pages: 483-502

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Handle: RePEc:kap:pubcho:v:145:y:2010:i:3:p:483-502

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Web page: http://www.springerlink.com/link.asp?id=100332

Related research

Keywords: Sects; Religion; Sects markets; Z12; L89; J24; D71;

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References

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  1. Robert J. Barro & Rachel M. Mccleary, 2005. "Which Countries Have State Religions?," The Quarterly Journal of Economics, MIT Press, vol. 120(4), pages 1331-1370, November.
  2. Graham, Bryan S. & Jonathan Temple, 2002. "Rich Nations, Poor Nations: How much can multiple equilibria explain?," Royal Economic Society Annual Conference 2002 91, Royal Economic Society.
  3. Robert B. Ekelund Jr. & Robert F. Hebert & Robert D. Tollison, 2008. "The Marketplace of Christianity," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550717, December.
  4. Ekelund, Robert B, Jr & Hebert, Robert F & Tollison, Robert D, 1989. "An Economic Model of the Medieval Church: Usury as a Form of Rent Seeking," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(2), pages 307-31, Fall.
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  8. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-94, October.
  9. Brooks Hull & Frederick Bold, 1998. "Product Variety in Religious Markets," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 1-19.
  10. Robert B. Ekelund, Jr. & Robert F. Hebert & Robert D. Tollison, 2002. "An Economic Analysis of the Protestant Reformation," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 646-671, June.
  11. Iannaccone, Laurence R, 1992. "Sacrifice and Stigma: Reducing Free-Riding in Cults, Communes, and Other Collectives," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 271-91, April.
  12. Laurence Iannaccone & Eli Berman, 2006. "Religious extremism: The good, the bad, and the deadly," Public Choice, Springer, vol. 128(1), pages 109-129, July.
  13. Eli Berman, 2003. "Hamas, Taliban and the Jewish Underground: An Economist's View of Radical Religious Militias," NBER Working Papers 10004, National Bureau of Economic Research, Inc.
  14. Howitt, Peter & McAfee, R Preston, 1988. "Stability of Equilibria with Externalities," The Quarterly Journal of Economics, MIT Press, vol. 103(2), pages 261-77, May.
  15. Laurence R. Iannaccone, 1998. "Introduction to the Economics of Religion," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1465-1495, September.
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Cited by:
  1. Vikas Kumar, 2013. "A model of secularism in the state of nature," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(2), pages 1199-1212, February.

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