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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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File URL: http://hdl.handle.net/10.1007/s11127-009-9576-y
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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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  1. 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. Azzi, Corry & Ehrenberg, Ronald G, 1975. "Household Allocation of Time and Church Attendance," Journal of Political Economy, University of Chicago Press, vol. 83(1), pages 27-56, February.
  9. 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.
  10. 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.
  11. 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.
  12. Bryan Graham & Jonathan Temple, 2006. "Rich Nations, Poor Nations: How Much Can Multiple Equilibria Explain?," Journal of Economic Growth, Springer, vol. 11(1), pages 5-41, 03.
  13. McCleary, Rachel & Barro, Robert, 2005. "Which Countries Have State Religions?," Scholarly Articles 3710663, Harvard University Department of Economics.
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  15. 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.
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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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