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 ...

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 ...

Most economic externalities can be efficiently solved through a system of private property rights, in which costs and benefits can be negotiated.

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 ...

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 ...

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 ...

Introductory-level economics uses supply and demand curves to identify the "ideal" price for a product, service or other economic activity. In Econ 101, these curves assume that the economy is working ...

“Happy families are all alike,” goes the Leo Tolstoy quote from the Russian classic Anna Karenina, “but every unhappy family is unhappy in its own way.” The same can be said about government-focused ...

Mark Bittman has a piece in the New York Times where he analyzes the "true cost" of hamburgers. There are some things right with the piece and some things wrong. In general, thinking about the costs ...