My article with Rosolino Candela, The Lightship in Economics, has been accepted today for publication at Public Choice. This is the second of a series of articles that we are working on in order to reconsider the role of the lighthouse in economics (a debate that has been vivid since Ronald Coase’s 1974 article in the Journal of Law & Economics). The abstract is below and the paper can be consulted here:
What role does government play in the provision of public goods? Economists have used the lighthouse as an empirical example to illustrate the extent to which the private provision of public goods is possible. This inquiry, however, has neglected the private provision of lightships. We investigate the private operation of the world’s first modern lightship, established in 1731 on the banks of the Thames estuary going in and out of London. First, we show…
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Utopia, you are standing in it! 
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