The side effect on an individual or entity due to the actions of another individual or entity. For example, the production of energy in a nuclear power plant benefits the owners of the power plant, but creates externalities in the form of radioactive waste for the environment and its inhabitants.
Related information about externality:
- Externality - Wikipedia, the free encyclopedia
In economics, an externality, or transaction spillover, is a cost or benefit that is not transmitted through prices or is incurred by a party who was not involved as ...
- Externality - Dictionary Definition of Externality
Definition: An externality is an effect of a purchase or use decision by one set of parties on others who did not have a choice and whose interests were not taken ...
- Externality Definition | Investopedia
A consequence of an economic activity that is experienced by unrelated third parties. An externality can be either positive or negative.
- Externality
Economics studies two forms of externalities. An externality is something that, while it does not monetarily affect the producer of a good, does influence the ...
- Externality: A Glossary of Political Economy Terms - Dr. Paul M ...
Externality. A situation in which the private costs or benefits to the producers or purchasers of a good or service differs from the total social costs or benefits ...
- Externality - Merriam-Webster Online
the quality or state of being external or externalized. 2. : something that is external. 3. : a secondary or unintended consequence <pollution and other ...
- Externality | Define Externality at Dictionary.com
noun, plural ex·ter·nal·i·ties. 1. the state or quality of being external. 2. something external; an outward feature. 3. excessive attention to externals. 4. an external ...
- Externality - JStor
Externality has been, and is, central to the neo-classical critique of ... In this paper , we propose to clarify the notion of externality by defining it rigorously and ...