CONSUMPTION, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

Externalities are the incidental effects that the activities or actions of one party have on another party. Positive externalities occur when the actions of a person or entity have a positive impact ...

There are differences between private returns or costs and the costs or returns to society as a whole Consumption, production, and investment decisions of individuals, households, and firms often ...

The idea of externalities is highly intuitive; it makes sense that the actions of one affect the happiness of others. A positive externality occurs when one’s actions benefit people who were not ...

Some theorists claim that externalities are probably the most legitimate reason for state intervention in human interactions. The ethical case for intervention is that it can presumably increase ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

1 Program of Environmental Sciences, University of São Paulo, São Paulo, Brazil. 2 Faculty of Law, University of São Paulo, São Paulo, Brazil. The article aims to present and discuss the explanatory ...

1 Robert H. Smith School of Business, University of Maryland, College Park, USA. 2 School of Public Policy, University of Maryland, University of Maryland, College Park, USA. Cyber security breaches ...

We economists are often faulted for having a language all our own, usually unintelligible to common mortals. (To be fair, our discipline is not unique in this: many think the language of lawyers is ...