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Vast majority of the advantage of a beacon

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The arrangement of a beacon is a standard illustration of a public decent, since it is hard to avoid ships from utilizing its administrations. No boat's utilization diminishes that of others, yet since the vast majority of the advantage of a beacon accumulates to ships utilizing speci?c ports, beacon support can be productively packaged with port charges [Ronald Coase, The Lighthouse in Economics 1974i This has been adequate to support genuine beacons.

Reference no: EM133160911

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