This paper shows that Smith has applied a wrong theory to explain public good financing. The result will be …

Pure Theory of Local Expenditure.” Its present recognition, frequently attributed to originating the idea of “voting with … by his passing in 1968. Penned as a qualification to Paul Samuelson's “pure theory,” the article failed to influence the … stabilization of postwar public good theory, despite Tiebout's engagement with key figures in its construction. Moreover, his death …

-based approach is the economic theory which typically considers the merits of privatization on efficiency-based grounds …