Coase and Bertrand on lighthouses

@article{Block2009CoaseAB,
  title={Coase and Bertrand on lighthouses},
  author={Walter E. Block and William A. Barnett},
  journal={Public Choice},
  year={2009},
  volume={140},
  pages={1-13}
}
Coase (Journal of Low and Economics 17(2):185–213, 1974) failed to appreciate that the construction and maintenance of nineteenth-century lighthouses were in part financed by British taxpayers. Bertrand (Cambridge Journal of Economics 30:389–402, 2006) rightly calls him to account. While agreeing with Bertrand’s conclusion, we dispute her reasoning and argue that lighthouses nevertheless could have been supplied by the private sector. 
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43 Citations
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43 Citations

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