TY  - JOUR
PY  - 2009//
TI  - The invisible hand plays dice: multiple equilibria in sects markets
JO  - Public choice
A1  - Poutvaara, Panu
A1  - Wagener, Andreas
SP  - 483
EP  - 502
VL  - 145
IS  - 3-4
N2  - Religious participation is much more widespread in the United States than in Europe, while Europeans tend to view sects more suspiciously than Americans. We propose an explanation for these patterns without assuming differences in preferences or market fundamentals. We study a religious market where both demand and supply of spiritual services are endogenous. Such markets may have multiple equilibria. Further, equilibria with more sects result in higher welfare and lower membership costs, as secular societies tend to host on average more demanding sects.<p /> <p>Language: en</p>
LA  - en
SN  - 0048-5829
UR  - http://dx.doi.org/10.1007/s11127-009-9576-y
ID  - ref1
ER  -