externality


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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 ?
Why don't government agencies use Pigovian taxes to remedy externality problems?
Carbon emissions are a market externality that distorts the true cost of production.
This article examines the accident externality from driving in terms of loss probability and severity by using a unique individual-level data set with more than 3 million observations from Taiwan.
Papandreou, Externality and Institutions 167-69 (1994) ("[I]f externality is simply another word for market failure, or institutional failure .
Nalebuff (1997: 35-37), for example, has argued that for environmental problems "as the scope of the externality affects more and more people, it becomes increasingly difficult to assign property rights.
This obvious externality required policy responses in the emerging countries: limits on capital inflows, reserve accumulation, and measures to restrict credit and restrain asset-price inflation.
A person riding a subway or using a road creates the demand for infrastructure that enables the existence of that subway or road for other people in his city--a positive externality.
The report reveals that the primary production (agriculture, forestry, fishing, oil and gas exploration, mining and utilities) and primary processing (cement, steel, paper and petrochemicals) sectors experienced estimated externality costs totalling $7.
The same type of externality existed in 2012 as sellers were active all year long, and particularly in the fourth quarter, to close transactions prior to year end to beat the anticipated increase in capital gains taxes.
The systemic externality argument does not provide a solid theoretical foundation for a rehabilitation of prudential policy.
To answer these questions, we will look at how the meaningful (3) forms of expression--the "works"--historically covered by copyright generate specific types of externality that are both positive and negative, giving rise to both incentive and censorship mechanisms.