externality
13
8.3
- noun
- /ˌɛkstɜːrˈnælɪti/
- Specialized
:
externalidad
- The story for today is that we have known that externalities can lead to market failures since the middle of the last century.
- negative externalities
- positive externalities
- environmental externalities
OK, that is an externality because my action to smoke has killed you.
- OK, that is an externality because my action to smoke has killed you.
- And that may or may not be related directly to some externality that we don't have control over.
- And that would be a good thing to allow those spillover effects of those externalities to occur.
- For example, regulation deals with monopolies and externalities.
- What how can you lay out some some insights to do with fossil fuels externalities that might surprise people?
- And the argument is that you need governmental regulation to internalize these negative externalities or to deal with the social costs.
- Climate change is the fundamental driver of change in the world's water resources and adds additional stress through its effects on other externalities.
- The negative externalities of illegality mean that courts shouldn't rely on private incentives of the parties to raise the the defense.
- And so a lot of the externalities are being handled by people's behavior.
Examples
-
The state provides some public goods, such as national defense, and it reduces negative externalities by, for example, regulating pollution.
Academic text (1990) -
However, we find evidence that the externality of military spending is actually negative.
Academic text (1993) -
In response to this externality and to the increased value of water, a different system of rights developed.
Academic text (1992) -
For example, one type of government intervention commonly justified by the externality argument is support for research and development.
Academic text (1993) -
The ability of economics to deal with these externalities has grown through the years.
Academic text (1993) -
The societal perspective also includes the effects of externalities, such as environmental impacts and other external costs and benefits.
Academic text (1992) -
The externality of air pollution affects the health of nearby residents who were not part of the industrial activity.
-
When one company pollutes a river, the negative externality can harm fishermen who rely on that waterway for their livelihoods.
-
Negative externalities like noise from a nearby airport can disturb the quality of life for local homeowners.
Synonyms
8
5.8
An indirect effect that helps other businesses or areas beyond the original activity
2
4.7
An indirect result of an event that causes other changes
Surface Forms
Morphology
Etymology
Externality comes from external + -ity, where external means 'outside' and -ity turns it into a 'state' or thing. So an externality is an effect that happens 'outside' the people doing an action — it affects others who are not directly involved.