Vlassopoulos, Michael - In: Journal of Economic Behavior & Organization 71 (2009) 2, pp. 515-527
This paper revisits the hypothesis that nonprofit organizations emerge in markets that are characterized by contractual incompleteness because they ensure consumers against opportunistic behavior. We extend the Glaeser and Shleifer [Glaeser, E., Shleifer, A., 2001. Not-for-profit entrepreneurs....