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Treasuries, Repertories And Collections In The Production Of Common Goods, Roger A. Lohmann

Faculty & Staff Scholarship

What types of resources are involved when members of a voluntary association combine their efforts in pursuit of joint goals or common goods? This paper examines the question from the vantage point of a rational choice theory termed endowment theory. Endowment theory is concerned with the rational allocation of productive surpluses to associations and other voluntary groups in pursuit of identified common goods. At least three distinct types of resource dowries can be identified in the current world of nonprofit associations. Treasuries are endowments of money and market-priced resources. Two other categories of "priceless" resource endowments are also evident among …