Emanuele, Rosemarie; Simmons, Walter - In: Applied Economics and Finance 1 (2014) 1, pp. 27-38
We present a model of the nonprofit organization that leads to an allocation in the economy that is Pareto Optimal. This is in contrast to the usual assumption that an economy in which individuals exhibit altruism will not lead to a Pareto Optimal outcome. The presence of nonprofit organizations...