externality

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Related to Negative externality: Positive externality

ex·ter·nal·i·ty

 (ĕk′stər-năl′ĭ-tē)
n. pl. ex·ter·nal·i·ties
1.
a. The condition or quality of being external or externalized.
b. Something that is external.
2. A cost or benefit that affects people other than those involved in the economic activity that produced it and that is not reflected in prices: pollution and other negative externalities.

externality

(ˌɛkstɜːˈnælɪtɪ)
n, pl -ties
1. the state or condition of being external
2. something external
3. (Philosophy) philosophy the quality of existing independently of a perceiving mind
4. (Economics) an economic effect that results from an economic choice but is not reflected in market prices

ex•ter•nal•i•ty

(ˌɛk stərˈnæl ɪ ti)

n., pl. -ties.
1. the state or quality of being external or externalized.
2. something external.
4. an often unforeseen external effect accompanying a process.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.externality - the quality or state of being outside or directed toward or relating to the outside or exterior; "the outwardness of the world"
worldliness - concern with worldly affairs to the neglect of spiritual needs; "he disliked the worldliness of many bishops around him"
spatial relation, position - the spatial property of a place where or way in which something is situated; "the position of the hands on the clock"; "he specified the spatial relations of every piece of furniture on the stage"
References in periodicals archive ?
For example, if a person smokes and thereby creates a negative externality of more secondhand smoke, then her choice not to smoke creates a positive externality of less secondhand smoke.
Thus, social welfare can in principle be improved by increasing the after-tax price paid by consumers, thereby reducing the quantity of the good they buy and curbing the behavior that generates the negative externality.
In the history of welfare economics, the classical approach to solving negative externality problems, such as pollution, was through the use of regulation, or what Mill (1871) termed "authoritative" solutions, "in which certain types of conduct are prescribed or proscribed" (Medema 2009: 37).
This "pigovian" tax should be equal in size to the negative externality caused by consumption.
At the same time, that person using the subway or road is crowding out a part of the infrastructure's potential use by others--a negative externality.
Based on the idea of negative externality discussed above, the present study examines whether the negative externality of littering can be internalised by associating a cost to the act by imposing a fine on the litterers.
Indeed, your competition with the Joneses is a negative externality, because the Joneses' success lowers your relative income, making you feel less happy.
A negative externality is the harm a contract inflicts on third persons who are not parties to the contract.
imposes a new negative externality on all the other victims.
Hadjistasou stressed that the switch to alternative sources of energy was not without an environmental cost itself, with the release of pollutants such as carbon dioxide into the atmosphere constituting an example of a negative externality that is usually overlooked in debates for green policies.