The invisible hand plays dice: multiple equilibria in sects markets
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.)
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Brooks Hull & Frederick Bold, 1998. "Product Variety in Religious Markets," Review of Social Economy, Taylor & Francis Journals, vol. 56(1), pages 1-19.
- McCleary, Rachel & Barro, Robert, 2005.
"Which Countries Have State Religions?,"
3710663, Harvard University Department of Economics.
- Mario Ferrero, 2005.
"Radicalization as a reaction to failure: An economic model of Islamic extremism,"
Springer, vol. 122(1), pages 199-220, January.
- Ferrero, Mario, 2002. "Radicalization as a reaction to failure: an economic model of islamic extremism," POLIS Working Papers 31, Institute of Public Policy and Public Choice - POLIS.
- Laurence Iannaccone & Eli Berman, 2006.
"Religious extremism: The good, the bad, and the deadly,"
Springer, vol. 128(1), pages 109-129, July.
- Eli Berman & Laurence R. Iannaccone, 2005. "Religious Extremism: The Good, The Bad, and The Deadly," NBER Working Papers 11663, National Bureau of Economic Research, Inc.
- 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.
- Graham, Bryan S & Temple, Jonathan, 2001.
"Rich Nations, Poor Nations: How Much can Multiple Equilibria Explain?,"
CEPR Discussion Papers
3046, C.E.P.R. Discussion Papers.
- 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.
- Bryan S. Graham & Jonathan R. W. Temple, 2004. "Rich nations, poor nations: how much can multiple equilibria explain?," The Institute for International Integration Studies Discussion Paper Series iiisdp017, IIIS.
- 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.
- 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.
- Takayama,Akira, 1985. "Mathematical Economics," Cambridge Books, Cambridge University Press, number 9780521314985, November.
- 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.
- 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.
- 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.
- 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.
- Howitt, Peter, 1985. "Transaction Costs in the Theory of Unemployment," American Economic Review, American Economic Association, vol. 75(1), pages 88-100, March.
- Peter Howitt & R. Preston McAfee, 1988. "Stability of Equilibria with Externalities," The Quarterly Journal of Economics, Oxford University Press, vol. 103(2), pages 261-277.
- 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.
- Laurence R. Iannaccone, 1998. "Introduction to the Economics of Religion," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1465-1495, September.
When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:145:y:2010:i:3:p:483-502. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.