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Economic Conceptualization Of Negative Environmental Externalities


  • Cornelia Gabriela Piciu

    () (Financial and Monetary Research Center “Victor Slăvescu”, Bucharest)

  • Iuliana Militaru

    () (Romanian American University)


In response to various pressures of society, economic agents polluting behaviors began to report externally on its environmental policy and performance. The importance of such an external report depends on the degree of change required in management culture and systems, in how new environmental protection measures influence management decisions. "Internalization of externalities" implies a reassessment of how to identify and measure the relevant costs of processes and products (such as a "total cost assessment") and to design mechanisms for stimulating innovation. Following these changes, management decisions and behavior could be reoriented, aimed at the establishment of sustainable development, for example by applying a viable industrial ecology.

Suggested Citation

  • Cornelia Gabriela Piciu & Iuliana Militaru, 2013. "Economic Conceptualization Of Negative Environmental Externalities," Romanian Economic Business Review, Romanian-American University, vol. 8(3.1), pages 123-130, September.
  • Handle: RePEc:rau:journl:v:8:y:2013:i:3.1:p:123-130

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    References listed on IDEAS

    1. de Vries, Bert J.M. & Petersen, Arthur C., 2009. "Conceptualizing sustainable development: An assessment methodology connecting values, knowledge, worldviews and scenarios," Ecological Economics, Elsevier, vol. 68(4), pages 1006-1019, February.
    2. Shogren, Jason F. & Crocker, Thomas D., 1991. "Risk, self-protection, and ex ante economic value," Journal of Environmental Economics and Management, Elsevier, vol. 20(1), pages 1-15, January.
    3. Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521759199, December.
    4. Dave Huitema & Andrew Jordan & Eric Massey & Tim Rayner & Harro Asselt & Constanze Haug & Roger Hildingsson & Suvi Monni & Johannes Stripple, 2011. "The evaluation of climate policy: theory and emerging practice in Europe," Policy Sciences, Springer;Society of Policy Sciences, vol. 44(2), pages 179-198, June.
    5. Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521766159, August.
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