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| | Externality - Wikipedia, the free encyclopedia |
 | | An externality occurs in economics therefore when a decision causes costs or benefits to stakeholders other than the person making the decision, often, though not necessarily, from the use of common goods (for example, a decision which results in pollution of the atmosphere would involve an externality). | | | The marginal private cost is less than the marginal social or public cost by the amount of the external cost, i.e., the cost of the smoking stacks and water pollution. | | | As with external costs, there is a problem here of societal communication and coordination to balance benefits and costs. |
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http://en.wikipedia.org/wiki/Externalities
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| | Externality: A Glossary of Political Economy Terms - Dr. Paul M. Johnson |
| | An "external diseconomy," "external cost" or "negative externality" results when part of the cost of producing a good or service is born by a firm or household other than the producer or purchaser. | | | The "external" portions of the costs and benefits of producing a good will not be factored into its supply and demand functions because rational profit-maximizing buyers and sellers do not take into account costs and benefits they do not have to bear. | | | subsidy approach to remedying externalities problems is, of course, that it may well be impossible or prohibitively expensive for the government to determine the size of the external costs or benefits involved and hence to determine even approximately what an appropriate tax or subsidy rate would be. |
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http://www.auburn.edu/~johnspm/gloss/externality
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| | Introduction to Environmental Externality Costs |
| | Pollution represents an external cost because damages associated with it are borne by society as a whole and are not reflected in market transactions. | | | According to Griffin and Steele (1986), external costs exist when "the private calculation of benefits or costs differs from society's valuation of benefits or costs". | | | Many analysts have attempted to quantify societal costs of pollution and other externalities associated with fossil fuel combustion, and some regulatory bodies have even attempted to crudely incorporate externality costs into investment decisions (Cohen et al. |
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http://enduse.lbl.gov/Info/Externalities-abstract.html
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| | Externalities |
| | An externality occurs when an economic agent’s consumption or production activities confer a benefit or impose a cost on other actors, and this benefit is conferred or this cost is imposed outside of a market. | | | A provision externality is a dynamic externality, and it is that together our animals impose a cost on the future provision of the good produced in the commons, that is we can cause environmental damage through overgrazing. | | | In the presence of an externality, the harmed party is theoretically willing to pay the harming party to reduce the activity generating the externality, but no market exists for them to conduct such an exchange. |
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http://faculty.maxwell.syr.edu/jomcpeak/lecture12.htm
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| | Negative Externalities [Virtual Learning Arcade] |
| | The externality is created because the marginal private benefit (individual's demand curve) is greater than the marginal social benefit (society's demand curve). | | | This implies that a negative externality occurs when the social cost is greater than the private cost. | | | The policy of reducing / removing the externality would need to shift the private costs / benefits towards the social costs / benefits. |
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http://www.bized.ac.uk/virtual/vla/theories/negative_externalities.htm
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| | Knowledge Problem: Externality Accounting |
| | In the unreal world of fully defined property rights and zero transaction costs, relevant externalities are the ones that private parties go out of their way to internalize through side payments. | | | With regard to the externalities of power plant emissions, agreement on the valuation basis (control cost vs. damage cost) has been elusive for decades. | | | For a second challenge, pick some other public policy commonly defended on externality grounds, and try to list the externalities with the wrong sign--the ones that are an argument for subsidizing what we now tax, or taxing what we now subsidize. |
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http://www.knowledgeproblem.com/archives/001497.html
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| | [No title] |
| | For example, while economists were writing of the positive externality brought to apple growers by the pollination activities of bees, beekeepers were internalizing this activity (and consequently invalidating the arguments of economists) by contracting with owners of apple orchards. | | | For inframarginal externality, the marginal utility of the external activity is zero. | | | Technological externalities, on the other hand, comprise the class of externalities that economists have focused on in recent decades as market failures: pollution, congestion, and so on. |
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http://www.utdallas.edu/~liebowit/jep.html
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| | Applications of Environmental Valuation for Determining Externality Costs |
| | If the plant was expected to produce 10 000 ton of SO /year, and the externality adder set by the state was $2000/ton, then $20 million/year of "environmental externality costs" had to be included in the investment analysis to determine which technology was most desirable. | | | As Table 4 shows, the total supply chain external costs for producing $1 million of electricity range from $86 000 to $947 000, with a median estimate of $339 000. | | | (28) estimated median external costs of an oil and gas-fired power plant at 9% but noted that the complete supply chain effects would be nearly double. |
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http://pubs.acs.org/cgi-bin/jtextd?esthag/34/8/html/es9907313.html
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| | [No title] |
| | Marginal external cost is the cost of producing one more unit of a good or service that falls on people other than the producer. | | | An external cost of production is a cost that is not borne by the producer but is borne by others. | | | An externality is a cost or benefit that arises from production and falls on someone other than the producer, or a cost or benefit that arises from consumption and falls on someone other than the consumer. |
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http://staffwww.fullcoll.edu/aturner/ch18.doc
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| | SSRN-The Externality of Victim Care by Alan Meese |
| | Moreover, recognition of this externality may actually bolster the positive economic theory by, for instance, explaining the absence of a contributory negligence defense to torts premised on strict liability. | | | The failure previously to identify the externality of victim care may reflect undue reliance on the farmer-railroad exemplar as a vehicle for examining the effects of various liability rules. | | | In particular, the article demonstrates that neither negligence nor strict liability with a defense of contributory negligence will cause injurers to internalize the externality of victim care. |
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http://papers.ssrn.com/sol3/papers.cfm?abstract_id=237992
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| | 2. THE FUNDAMENTAL EXTERNALITY OF OCEAN RANCHING |
| | The external effects of ocean ranching imply that profits maximizing ocean ranchers operating within the market system will generally not receive the appropriate economic signals. | | | One initially proposed by Pigou (1912) is to counteract the externality by imposing corrective taxes or subsidies. | | | accurately reflecting the marginal external costs being imposed, the level of discouragement would be socially optimal. |
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http://www.fao.org/DOCREP/005/Y1805E/y1805e08.htm
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| | Economics and Liberty: Workers Externality Victims? Just Say No To Externality Abuse |
| | Efforts to argue that the government policy is correcting an externality is turning the entire concept of efficiency upside down. | | | The choices of employers and employees are not at all external to the market. | | | The Wal-Mart case cannot be a source of externality market failure because the interdependence in question occurs through the market process. |
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http://economicsandliberty.blogspot.com/2005/05/workers-externality-victims-just-say.html
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| | Classroom Expernomics: Spring 1996 |
| | The other major way for markets to mess up is if the externality is "public"--not just between two individuals as in this nice little example, but between two large groups of individuals who cannot be presumed to cooperate--even with members of their own side--to express their true preferences, costs, or benefits. | | | Their total and marginal values over the externality are as follows. | | | So B has the "demand curve" and N the "supply curve." If we are moving in the opposite direction, from smoke=3 as our reference point, then this implies increasing marginal costs to B, and decreasing marginal benefits to N, so B now has the supply (of "smoke reductions") and N is the demander. |
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http://www.marietta.edu/~delemeeg/expernom/s96.html
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| | Tufte's Economics Classes Blog: Externality |
| | There is a problem that is created from this where that companies do not fully measure the economic costs of their actions. | | | Because they don’t subtract these costs from there revenues, so profit is inaccurately portrayed. | | | This is where the government comes into play it is there basic goal to have companies internalize externality costs. |
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http://econtufte.blogspot.com/2005/03/externality.html
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| | Network effect - Wikipedia, the free encyclopedia |
| | One consequence of a network effect is that the purchase of a good by one individual indirectly benefits others who own the good - for example by purchasing a telephone a person makes other telephones more useful. | | | However, network effects need not lead to market dominance by one firm, when there are standards which allow multiple firms to interoperate, thus allowing the network externalities to benefit the entire market. | | | This is true for the case of x86-based personal computer hardware, in which there are extremely strong market pressures to interoperate with pre-existing standards, but in which no one firm dominates in the market. |
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http://en.wikipedia.org/wiki/Network_externality
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| | Will Wilkinson / The Fly Bottle: Success as Pollution: Layard Meets Coase |
| | The rich therefore may be entitled to a preference shift that will result in tax cuts. | | | If you changing your preference is cheaper than taxing me, then you ought to change your preference. | | | If so (and it seems plausible), then caring less about relative position may well be the least cost "solution" to the relative income externality "problem." And that's even if we treat preferences about relative position as having normative weight, which we shouldn't. |
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http://www.willwilkinson.net/flybottle/archives/2005/07/success_as_poll.html
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| | EXTERNALITY |
| | The term externality derives from economics, where externalities are costs or benefits not taken into account in a transaction or system of transactions. | | | If the effects of an externality are appreciable, it may have to be taken into account (internalized) in the analysis. | | | For example, the cost borne by others when an industry pollutes a stream would be referred to as an externality. |
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http://pespmc1.vub.ac.be/ASC/EXTERNALITY.html
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| | Externality |
| | In general, when there are goods, services, and resources that people can get without paying for them at a market equilibrium price, inefficiency will be the result. | | | The term for this in economics is "externality." |
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http://william-king.www.drexel.edu/top/prin/txt/Govch/Ex1.html
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| | Lecture Twelve: Public Goods and Externalities |
| | Explain and illustrate how Pigouvian taxes can be used to internalize externalities. | | | In analyzing this important problem, we will want to come to understand the many different ways a government can address it—from liability rules, lawsuits and direct controls to the use of taxes to discourage “negative externalities” and subsidies to encourage “positive externalities.” | | | A second approach to internalizing externalities relies upon a legal framework of liability laws. |
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http://web.gsm.uci.edu/~navarro/MISGLecture_twelve.htm
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| | A Stitch in Haste Wonder Drugs are Now a "Negative Externality"? |
| | But if we start defining down externalities to the point where private people and private businesses not engaging in altruistic deviation from profit maximization is an "externality," then the word no longer has any real meaning, and any or every policy proposal, no matter how anti-capitalist and anti-libertarian, is functionally and morally equivalent. | | | And with regards to Tamiflu specifically, I maintain my thesis that the "problem" of pharmaceutical profits is no real problem at all: If you want companies (or their investors) to do good tomorrow, then you have to let them do well today. | | | I actually see where Cowen is going in his post, but I think it's a bit too sloppy to fault the mere concept of private enterprise and private property as inflicting "negative externalities." |
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http://kipesquire.powerblogs.com/posts/1130170310.shtml
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| | Externality |
| | An example of a positive externality is the effect of a well-educated labor force on the productivity of a company. | | | Pollution emitted by a factory that spoils the surrounding environment and affects the health of nearby residents is an example of a negative externality. | | | An externality can be either positive or negative. |
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http://www.investopedia.com/terms/e/externality.asp
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| | 1.2. Two part tarif and diffusion with consumtion externality |
| | Consumers have variable willingness to pay, according to an idiosyncratic parameter, distributed on [0,1] and with an externality effect from their neighbourhood. | | | The basic-version of this model is a strictly neo-classical monopoly with two part tariff and consumption externality, following Littlechild (1975). | | | Two part tarif and diffusion with consumtion externality |
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http://www-eco.enst-bretagne.fr/~phan/moduleco/english/moduleco12.htm
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| | Dynamist Blog: Appalled but Not Surprised |
| | If spillovers are all it takes to justify government action, liberalism's most basic freedoms--from freedom of speech to private property--cannot survive. | | | Kelo is the logical result of the argument that spillovers of any sort--in this case, the positive effects of business development--constitute externalities, and that externalities justify government intervention. | | | If it's fine for air pollution (as I believe it is), why doesn't it apply to refusing to sell your house to a business that would enrich the local area? |
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http://www.dynamist.com/weblog/archives/001772.html
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| | G.W.F. Hegel -- Social and Political Thought [Internet Encyclopedia of Philosophy] |
| | Since this consent involves bringing two persons into a union, there is the mutual surrender of their natural individuality for the sake of union, which is both a self-restriction and also a liberation because in this way individuals attain a higher self-consciousness. | | | The interpenetration of the universal with the particular will through a complex system of social and political mediations is what produces the self-consciousness of the nation-state considered as an organic (internally differentiated and interrelated) totality or concrete individual. | | | The status of being an independent owner of something from which one excludes the will of another is thus mediated in the identification of one's will with the other in the contractual relation, which presupposes that the contracting parties "recognize each other as persons and property owners" (¶ 71). |
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http://www.iep.utm.edu/h/hegelsoc.htm
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| | Externality Dissertation Help, Write a Dissertation on Externality Thesis |
| | Since 1998, our Externality experts have helped master, doctoral, and post-graduate students worldwide by providing the most comprehensive research service on the Internet for Externality studies and coursework. | | | Externality Dissertation Help, Thesis Writing, Dissertation Proposal Research, and Thesis Help | | | Our Externality researchers are highly-educated specialists with impeccable research and writing skills who have vast experience in preparing doctoral-level research materials. |
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http://www.phd-dissertations.com/topic/externality_dissertation_thesis.html
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| | Externality |
| | What is most disturbing is that this assumption - that we can externally control the outlook and behavior of our citizens through wealth - is shared by both conservative and liberal viewpoints. | | | There is will and worldview, including to what degree we find transcendent value in the world and thus decide to work for certain ends and not others. | | | While resisting crowds is difficult, we can make a start by looking at people for internal and not external factors, and making the slow pilgrimage back to a point where it is legal to use such determinations to pick our neighbors and business associates. |
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http://www.anus.com/zine/articles/externality
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| | externality - definition of externality by the Free Online Dictionary, Thesaurus and Encyclopedia. |
| | This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. | | | externality - the quality or state of being outside or directed toward or relating to the outside or exterior; "the outwardness of the world" | | | The condition or quality of being external or externalized. |
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http://www.thefreedictionary.com/externality
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| | G.W.F Hegel Resource Site |
| | The ability to rationally think through this process provides us with an insight into the essence of the Concept (Begriff), whose intrinsic dynamic is constitued by the dialectical and sublimational activity that is self-evoked by the very nature of the various aspects or moments of the Concept itself. | | | This process is the unending pulse beat of the Absolute where each beat may be considered a particular, while the pulse is the universal whole. | | | This is not to be misunderstood as a spirit monism - it is not a monotonous, static result, but a living multi-dimensional Reality - a result that is ever producing itself through the process of expressing or externalizing itself in otherness, then returning to itself by finding itself in this otherness. |
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http://www.gwfhegel.org
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| | CCR 711: Network(ed) Rhetorics: Rusesabagina and Network Externality |
| | I wonder if we could call this some sort of rhetorical externality, a slight variation on information externalities (211). | | | I guess this could be read as a grand leap, so I only want to suggest one other connection. | | | Enough visas to help some of the families. |
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http://wrt-brooke.syr.edu/net/archives/2005/02/rusesabagina_an.html
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