AbstractThis paper discusses the concept of 'externalities '. It starts with a brief discussion of market failures in the neoclassical economic framework. It then proceeds to a definition of externalities, thereby distinguishing external effects from other sorts of 'unpriced effects '. Finally, some attention is paid to the relation, and tension, between efficiency and equity impacts of externalities.
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Bibliographic InfoPaper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0031.
Date of creation: 1997
Date of revision:
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Web page: http://www.feweb.vu.nl
Find related papers by JEL classification:
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-02-08 (All new papers)
- NEP-ENV-1999-02-08 (Environmental Economics)
- NEP-TID-1999-02-08 (Technology & Industrial Dynamics)
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