Re: Religion and Economics

I agree with your lack of rationality assumption, but that does not really mean that economically you make a good case for church. First of all your comment on people go to church once a week is exactly in line with my rationality assumption. What I mean is that faced with a non enforcible contract people choose to not deliver fully on their side (such a living a life of pious adoration of God). Second, you cannot allow for an infinite pain solution as that would create a bubble solution, which we know is not sustainable in any model. One needs to assume a non-Ponzi solution for the model to be solvable, which would suggest that people as rational actors would not engage in such a contract.