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Externality

In economics, an externality is a cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Many externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The cost of air pollution to society…

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Externality

Nodes166
Edges165
Triples120
Avg. degree1.99
Density0.012048
Components1

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Externality

Top relations

related to history · 22
Externality → Additionally, Alfred Marshall, American, Arthur Pigou, British, Economics, Frank Knight, Harold Hotelling, His, Knight's, Marshall, Marshall's, Pigou, Pigovian, Principles, Ronald Coase, Scholars, The, The Economics, Throughout
related to Criticism · 17
Externality → Amory, Clive Spash, Concerning, Creating, Ecological, Fred Pearce, Hawken, Hunter Lovins, Joan Martinez Alier, Natural Capitalism, NCE, Next Industrial Revolution, Paul Hawken, Stern, Stern Report, The, These
related to Implications · 12
Externality → Although, But, By, For, From, It, Negative, Pareto, The, This, Thus, With
related to External costs · 10
Externality → For, If, It, Pp, Ps, Qp, Qs, The, These, This
related to External benefits · 9
Externality → Assume, For, If, Pp, Ps, Qp, Qs, The, This
related to Supply and demand diagram · 8
Externality → An, However, One, Similarly, The, This, What, Whenever
related to Definitions · 6
Externality → An, Conversely, For, In, The, The Pareto
related to Inframarginal · 6
Externality → At, Craig Stubblebine, Inframarginal, James Buchanan, The, These
related to Negative · 5
Externality → Barry Commoner, It, Many, Pollution, The
is a · 3
Externality → answer, cost or benefit to an uninvolved third party that arises as an effect of another party's, spread of infectious diseases to others resulting from one's exercising the right to decline preventive or therapeutic medical care

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Important terminology

externalities costs negative market example pollution cost may private social economic production positive benefits external consumption government benefit society tax

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
Externalityis acost or benefit to an uninvolved third party that arises as an effect of another party's0.90text
Externalityis aspread of infectious diseases to others resulting from one's exercising the right to decline preventive or therapeutic medical care0.90text
Externalityis aanswer0.90text
Ronald Coaseinstance ofScholars0.80text
Harold Hotelling made significant contributions to the understanding of externalitiesinstance ofScholars0.80text
their implications for market efficiencyinstance ofScholars0.80text
welfare.The recognition of externalities as a pervasive phenomenon with wide-ranging implications has led to its incorporation into various fields beyond economicsinstance ofScholars0.80text
including environmental scienceinstance ofScholars0.80text
public healthinstance ofScholars0.80text
and urban planninginstance ofScholars0.80text
climate changeinstance ofContemporary debates surrounding issues0.80text
pollutioninstance ofContemporary debates surrounding issues0.80text

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