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
Other versions of this item:
- 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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- Bergstrom, Theodore & Blume, Lawrence & Varian, Hal, 1986. "On the private provision of public goods," Journal of Public Economics, Elsevier, vol. 29(1), pages 25-49, February.
- Bird, Peter J. W. N., 1988. "One more externality article: Reply," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 382-383, September.
- Buchanan, James M, 1969. "External Diseconomies, Corrective Taxes, and Market Structure," American Economic Review, American Economic Association, vol. 59(1), pages 174-77, March.
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- Mishan, E J, 1971. "The Postwar Literature on Externalities: An Interpretative Essay," Journal of Economic Literature, American Economic Association, vol. 9(1), pages 1-28, March.
- Sandmo, Agnar, 1976. "Optimal taxation : An introduction to the literature," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 37-54.
- Harrison, Glenn W., 1993. "Environmentally sensitive industries and an emerging Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 4(1), pages 109-126.
- Buchanan, James M & Tullock, Gordon, 1975. "Polluters' Profits and Political Response: Direct Controls Versus Taxes," American Economic Review, American Economic Association, vol. 65(1), pages 139-47, March.
- Adar, Zvi & Griffin, James M., 1976. "Uncertainty and the choice of pollution control instruments," Journal of Environmental Economics and Management, Elsevier, vol. 3(3), pages 178-188, October.
- Johansson,Per-Olov, 1991. "An Introduction to Modern Welfare Economics," Cambridge Books, Cambridge University Press, number 9780521356954, April.
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