Externality - Knowledge

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ways that go beyond the original inventor is one instance of positive technical externalities. Let us examine the instance of research and development (R&D) inside the pharmaceutical sector. In addition to possible financial gain, a pharmaceutical company's R&D investment in the creation of a new medicine helps society in other ways. Better health outcomes, higher productivity, and lower healthcare expenses for both people and society at large might result from the new medication. Furthermore, the information created via research and development frequently spreads to other businesses and sectors, promoting additional innovation and economic expansion. For example, biotechnology advances could have uses in agriculture, environmental cleanup, or renewable energy, not just in the pharmaceutical industry. However, technical externalities can also take the form of detrimental spillovers that cost society money. Pollution from industrial manufacturing processes is a prime example. Businesses might not be entirely responsible for the expenses of environmental deterioration if they release toxins into the air or rivers as a result of their production processes. Rather, these expenses are shifted to society in the form of decreased quality of life for impacted populations, harm to the environment, and health risks. In addition, workers in some industries may experience job displacement and unemployment as a result of disruptive developments in labor markets brought about by technological improvements. For instance, individuals with outdated skills may lose their jobs as a result of the automation of manufacturing processes through robots and artificial intelligence, causing social and economic unrest in the affected areas.

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challenged by Coase. He presents the idea of transaction costs, which include the expenses related to reaching, upholding, and keeping an eye on agreements between parties. In the existence of externalities, transaction costs may hinder the effectiveness of private bargaining and result in worse-than-ideal results, according to Coase. He does, however, contend that private parties can establish mutually advantageous arrangements to internalize externalities without the involvement of the government, provided that there are minimal transaction costs and clearly defined property rights. Nevertheless, Coase uses the example of the distribution of property rights between a farmer and a rancher to support his claims. Assume there is a negative externality because the farmer's crops are harmed by the rancher's livestock. In a society where property rights are well-defined and transaction costs are minimal, the farmer and rancher can work out a voluntary agreement to settle the dispute. For example, the farmer may invest in preventive measures to lessen the impact, or the rancher could pay the farmer back for the harm the cattle caused. Coase's approach emphasizes how crucial it is to take property rights and transaction costs into account when managing externalities. He highlights that voluntary transactions between private parties can allow private parties to internalise externalities and that property rights distribution and transaction cost reduction can help make this possible.

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profits. But other customers who now have to pay more for identical goods might also suffer from this price hike. As a result, consumers who were not involved in the initial transaction suffer a monetary externality in the form of diminished buying power, while producers profit from increased prices. Furthermore, markets with economies of scale or network effects may experience pecuniary externalities. For example, when it comes to network products, like social media platforms or communication networks, the more people use the technology or engage in it, the more valuable the product becomes. Consequently, early adopters could gain financially from positive pecuniary externalities such as enhanced network effects or greater resale prices of related products or services. As a conclusion, pecuniary externalities draw attention to the intricate relationships that exist between market players and the effects that market transactions have on distribution. Comprehending pecuniary externalities is essential for assessing market results and formulating policies that advance economic efficiency and equality, even if they might not have the same direct impact on welfare or resource allocation as traditional externalities.

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public roads. Knight shows that government intervention is unnecessary if roads were privately owned instead. If roads were privately owned, their owners could set tolls that would reduce traffic and thus congestion to an efficient level. This argument forms the basis of the traffic equilibrium. This argument supposes that two points are connected by two different highways. One highway is in poor condition, but is wide enough to fit all traffic that desires to use it. The other is a much better road, but has limited capacity. Knight argues that, if a large number of vehicles operate between the two destinations and have freedom to choose between the routes, they will distribute themselves in proportions such that the cost per unit of transportation will be the same for every truck on both highways. This is true because as more trucks use the narrow road, congestion develops and as congestion increases it becomes equally profitable to use the poorer highway. This solves the externality issue without requiring any government tax or regulations.

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production would increase as they would have motivation to do so. With this comes the Free Rider Problem. The Free Rider Problem arises when people overuse a shared resource without doing their part to produce or pay for it. It represents a failure in the market where goods and services are not able to be distributed efficiently, allowing people to take more than what is fair. For example, if a farmer has honeybees a positive externality of owning these bees is that they will also pollinate the surrounding plants. This farmer has a next door neighbour who also benefits from this externality even though he does not have any bees himself. From the perspective of the neighbour he has no incentive to purchase bees himself as he is already benefiting from them at zero cost. But for the farmer, he is missing out on the full benefits of his own bees which he paid for, because they are also being used by his neighbour.

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positive and negative effects. To further elaborate on this, when expenses associated with the production or use of an item or service are incurred by others but are not accounted for in the market price, this is known as a negative externality. The health and well-being of local populations may be negatively impacted by environmental deterioration resulting from the extraction of natural resources. Comparably, the tranquility of surrounding inhabitants might be disturbed by noise pollution from industry or transit, which lowers their quality of life. On the other hand, positive externalities occur when the activities of producers or consumers benefit other parties in ways that are not accounted for in market exchanges. A prime example of a positive externality is education, as those who invest in it gain knowledge and production for society as a whole in addition to personal profit.

802:," published in 1890. Marshall introduced the concept to elucidate the effects of production and consumption activities that extend beyond the immediate parties involved in a transaction. Marshall's formulation of externalities laid the groundwork for subsequent scholarly inquiry into the broader societal impacts of economic actions. While Marshall provided the initial conceptual framework for externalities, it was Arthur Pigou, a British economist, who further developed the concept in his influential work, "The Economics of Welfare," published in 1920. Pigou expanded upon Marshall's ideas and introduced the concept of "Pigovian taxes" or corrective taxes aimed at internalizing externalities by aligning private costs with social costs. His work emphasized the role of government intervention in addressing market failures resulting from externalities. 1926:

possesses a fireplace, and often lights fires in his house without issue. Then one day, the other neighbor builds a wall that prevents the smoke from escaping and sends it back into the fire-building neighbor’s home. This illustrates the reciprocal nature of externalities. Without the wall, the smoke would not be a problem, but without the fire, the smoke would not exist to cause problems in the first place. Coase also takes issue with Pigou’s assumption of a “benevolent despot” government. Pigou assumes the government’s role is to see the external costs or benefits of a transaction and assign an appropriate tax or subsidy. Coase argues that the government faces costs and benefits just like any other economic agent, so other factors play into its decision-making.

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populations decrease, and as a result, ecosystems are irritated, and the fishing industry experiences financial losses. These consequences have an adverse effect on subsequent generations and other people who depend on the resource. Nevertheless, the reduction of externalities linked to resources in common pools frequently necessitates the adoption of collaborative management approaches, like community-based management frameworks, tradable permits, and quotas. Communities can lessen the tragedy of the commons and encourage sustainable resource use and conservation for the benefit of current and future generations by establishing property rights or controlling access to shared resources.

1451:. This hypothesis challenges the conventional microeconomic model, as outlined by the Common Pool Resource (CPR) mechanism, which typically assumes that an individual's utility derived from consuming a particular good or service remains unaffected by other's consumption choices. Instead, Duesenberry posits that individuals gauge the utility of their consumption based on a comparison with other consumption bundles, thus introducing the notion of relative income into economic analysis. Consequently, the consumption of positional goods becomes highly sought after, as it directly impacts one's perceived status relative to others in their social circle. 2092:

firms that have low abatement costs to firms with higher abatement costs and therefore the system is both cost-effective and cost-efficient. The cap and trade system has some practical advantages over an emissions fee such as the fact that: 1. it reduces uncertainty about the ultimate pollution level. 2. If firms are profit maximizing, they will utilize cost-minimizing technology to attain the standard which is efficient for individual firms and provides incentives to the research and development market to innovate. 3. The market price of pollution rights would keep pace with the price level while the economy experiences inflation.

887: 2022:, the resort-owner and the logger could, in theory, get together to agree to a deal. For example, the resort-owner could pay the logger not to clear-cut – or could buy the forest. The most problematic situation, from Coase's perspective, occurs when the forest literally does not belong to anyone, or in any example in which there are not well-defined and enforceable property rights; the question of "who" owns the forest is not important, as any specific owner will have an interest in coming to an agreement with the resort owner (if such an agreement is mutually beneficial). 2104:

technology. While it may reduce the pollution, it is not cost-effective and stifles innovation by incentivising research and development for technology that would work better than the mandated one. Performance standards set emissions goals for each polluting firm. The free choice of the firm to determine how to reach the desired emissions level makes this option slightly more efficient than the technology standard, however, it is not as cost-effective as the cap-and-trade system since the burden of emissions reduction cannot be shifted to firms with lower abatement.

1772:, which are goods where it is difficult if not impossible to exclude people from benefits. The production of a public good has beneficial externalities for all, or almost all, of the public. As with external costs, there is a problem here of societal communication and coordination to balance benefits and costs. This also implies that vaccination is not something solved by competitive markets. The government may have to step in with a collective solution, such as subsidizing or legally requiring vaccine use. If the government does this, the good is called a 5646: 1160: 1808:

to abuse and deterioration when access is unrestrained. Without clearly defined property rights or efficient management structures, people or organizations may misuse common pool resources without thinking through the long-term effects, which might have detrimental externalities on other users and society at large. This phenomenon—famously referred to by Garrett Hardin as the "tragedy of the commons"—highlights people's propensity to put their immediate self-interests ahead of the sustainability of shared resources.

1800:. While property rights to some things, such as objects, land, and money can be easily defined and protected, air, water, and wild animals often flow freely across personal and political borders, making it much more difficult to assign ownership. This incentivizes agents to consume them without paying the full cost, leading to negative externalities. Positive externalities similarly accrue from poorly defined property rights. For example, a person who gets a flu vaccination cannot own part of the 976: 1315: 2050:). Specifically, when investments are relationship-specific and non-contractible, then insufficient investments will be made when it is anticipated that parts of the investments’ returns will go to the trading partner in future negotiations (see Hart and Moore, 1988). Hence, Pigouvian taxation can be welfare-improving precisely because Coasean bargaining will take place in the future. Antràs and Staiger (2012) make a related point in the context of international trade. 1701: 1574: 2042:. Additionally, firms could potentially bribe each other since there is little to no government interaction under the Coase theorem. For example, if one oil firm has a high pollution rate and its neighboring firm is bothered by the pollution, then the latter firm may move depending on incentives. Thus, if the oil firm were to bribe the second firm, the first oil firm would suffer no negative consequences because the government would not know about the bribing. 2212:

assumes environmental and social problems are minor aberrations in an otherwise perfectly functioning efficient economic system. Internalizing the odd externality does nothing to address the structural systemic problem and fails to recognize the all pervasive nature of these supposed 'externalities'. This is precisely why heterodox economists argue for a heterodox theory of social costs to effectively prevent the problem through the precautionary principle.

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imposing taxes on the producers of this externality. This is usually done similar to a quote where there is no tax imposed and then once the externality reaches a certain point there is a very high tax imposed. However, since regulators do not always have all the information on the externality it can be difficult to impose the right tax. Once the externality is internalized through imposing a tax the competitive equilibrium is now Pareto optimal.

6061: 7619: 771:") on negative externalities could be used to reduce their incidence to an efficient level. Subsequent thinkers have debated whether it is preferable to tax or to regulate negative externalities, the optimally efficient level of the Pigouvian taxation, and what factors cause or exacerbate negative externalities, such as providing investors in corporations with limited liability for harms committed by the corporation. 70: 6081: 5382: 4130: 1913:(also called Pigouvian tax, after economist Arthur C. Pigou) is a tax imposed that is equal in value to the negative externality. In order to fully correct the negative externality, the per unit tax should equal the marginal external cost. The result is that the market outcome would be reduced to the efficient amount. A side effect is that revenue is raised for the government, reducing the amount of 990:(also called "external cost" or "external diseconomy") is an economic activity that imposes a negative effect on an unrelated third party, not captured by the market price. It can arise either during the production or the consumption of a good or service. Pollution is termed an externality because it imposes costs on people who are "external" to the producer and consumer of the polluting product. 1819:. Transaction costs are the cost of making an economic trade. These costs prevent economic agents from making exchanges they should be making. The costs of the transaction outweigh the benefit to the agent. When not all mutually beneficial exchanges occur in a market, that market is inefficient. Without transaction costs, agents could freely negotiate and internalize all externalities. 31: 756:

individual's consumption in a market increases the well-being of others, but the individual does not charge the third party for the benefit. The third party is essentially getting a free product. An example of this might be the apartment above a bakery receiving some free heat in winter. The people who live in the apartment do not compensate the bakery for this benefit.

2007:. The case of the vaccinations would also not satisfy the requirements of the Coase theorem. Since the potential external beneficiaries of vaccination are the people themselves, the people would have to self-organize to pay each other to be vaccinated. But such an organization that involves the entire populace would be indistinguishable from government action. 1191:, the prospect that parties insulated from risk may behave differently from the way they would if they were fully exposed to the risk. For example, individuals with insurance against automobile theft may be less vigilant about locking their cars, because the negative consequences of automobile theft are (partially) borne by the insurance company. 835:

benefit of an action or decision to an economic agent and the social benefit. A positive externality is anything that causes an indirect benefit to individuals and for which the producer of that positive externality is not compensated. For example, planting trees makes individuals' property look nicer and it also cleans the surrounding areas.

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the external benefit (for example, society as a whole is increasingly protected from smallpox by each vaccination, including those who refuse to participate). This marginal external benefit of getting a smallpox shot is represented by the vertical distance between the two demand curves. Assume there are no external costs, so that social cost

2166:, for instance shows that the bulk of consumers are automatically excluded from having an impact upon the prices of commodities, as these consumers are future generations who have not been born yet. The assumptions behind future discounting, which assume that future goods will be cheaper than present goods, has been criticized by 2054:

Firms could bid the price they are willing to pay for the amount they want to pollute, and then have the right to pollute that amount without penalty. This would allow firms to pollute at the amount where the marginal cost of polluting equals the marginal benefit of another unit of pollution, thus leading to efficiency.

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In contrast, ecological economists, like Joan Martinez-Alier, appeal to a different line of reasoning. Rather than assuming some (new) form of capitalism is the best way forward, an older ecological economic critique questions the very idea of internalizing externalities as providing some corrective

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This theorem would not apply to the steel industry case discussed above. For example, with a steel factory that trespasses on the lungs of a large number of individuals with pollution, it is difficult if not impossible for any one person to negotiate with the producer, and there are large transaction

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Imagine, for instance, that there are no rules or limits in place and that several fishermen have access to a single fishing area. In order to maintain their way of life, fishermen are motivated to maximize their catches, which eventually causes overfishing and the depletion of fish populations. Fish

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The graph shows the effects of a positive or beneficial externality. For example, the industry supplying smallpox vaccinations is assumed to be selling in a competitive market. The marginal private benefit of getting the vaccination is less than the marginal social or public benefit by the amount of

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if some job candidates begin wearing expensive custom-tailored suits, a side effect of their action is that other candidates become less likely to make favorable impressions on interviewers. From any individual job seeker's point of view, the best response might be to match the higher expenditures of

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has argued that this method of privatising profits while socialising the costs through externalities, passing the costs to the community, to the natural environment or to future generations is inherently destructive. Social ecological economist Clive Spash argues that externality theory fallaciously

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argued that an efficient outcome can sometimes be reached without government intervention. Some take this argument further, and make the political argument that government should restrict its role to facilitating bargaining among the affected groups or individuals and to enforcing any contracts that

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Government intervention might not always be needed. Traditional ways of life may have evolved as ways to deal with external costs and benefits. Alternatively, democratically run communities can agree to deal with these costs and benefits in an amicable way. Externalities can sometimes be resolved by

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When resources are managed poorly or there are no well-defined property rights, externalities frequently result, especially when it comes to common pool resources. Due to their rivalrous usage and non-excludability, common pool resources including fisheries, forests, and grazing areas are vulnerable

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contributed to the understanding of externalities through his writings on social costs and benefits in the 1920s and 1930s. Knight's work highlighted the inherent challenges in quantifying and mitigating externalities within market systems, underscoring the complexities involved in achieving optimal

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These externalities occur when technology spillovers from the acts of one economic agent impact the production or consumption potential of another agency. Depending on their nature, these spillovers may produce positive or negative externalities. The creation of new technologies that help people in

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for their properties. This is an example of a pecuniary externality, because the positive spillover is accounted for in market prices. In this case, house prices in the neighborhood will increase to match the increased real estate value from maintaining their aesthetic. (such as by mowing the lawn,

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The recognition of externalities as a pervasive phenomenon with wide-ranging implications has led to its incorporation into various fields beyond economics, including environmental science, public health, and urban planning. Contemporary debates surrounding issues such as climate change, pollution,

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Further arguments against Pigou disagree with his assumption every externality has someone at fault or responsible for the damages. Coase argues that externalities are reciprocal in nature. Both parties must be present for an externality to exist. He uses the example of two neighbors. One neighbor

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The concept of inframarginal externalities was introduced by James Buchanan and Craig Stubblebine in 1962. Inframarginal externalities differ from other externalities in that there is no benefit or loss to the marginal consumer. At the relevant margin to the market, the externality does not affect

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Government involvement is frequently necessary to address externalities. This can be done by enacting laws, Pigovian taxes, or other measures that encourage positive externalities or internalize external costs. Through the integration of externalities into economic research and policy formulation,

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In microeconomic theory, externalities are factored into competitive equilibrium analysis as the social effect, as opposed to the private market which only factors direct economic effects. The social effect of economic activity is the sum of the indirect (the externalities) and direct factors. The

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merely an ethical problem. The problem is one of the disjunctures between marginal private and social costs that are not solved by the free market. It is a problem of societal communication and coordination to balance costs and benefits. This also implies that pollution is not something solved by

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What curve is added depends on the type of externality that is described, but not whether it is positive or negative. Whenever an externality arises on the production side, there will be two supply curves (private and social cost). However, if the externality arises on the consumption side, there

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Example: consider a scenario where individuals within a social group vie for the latest luxury cars. As one member acquires a top-of-the-line vehicle, others may feel compelled to upgrade their own cars to preserve their status within the group. This cycle of competitive consumption can result in

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Although positive externalities may appear to be beneficial, while Pareto efficient, they still represent a failure in the market as it results in the production of the good falling under what is optimal for the market. By allowing producers to recognise and attempt to control their externalities

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The cap-and-trade system enables the efficient level of pollution (determined by the government) to be achieved by setting a total quantity of emissions and issuing tradable permits to polluting firms, allowing them to pollute a certain share of the permissible level. Permits will be traded from

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Frank Knight also argued against government intervention as the solution to externalities. He proposed that externalities could be internalized with privatization of the relevant markets. He uses the example of road congestion to make his point. Congestion could be solved through the taxation of

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Kenneth Arrow suggests another private solution to the externality problem. He believes setting up a market for the externality is the answer. For example, suppose a firm produces pollution that harms another firm. A competitive market for the right to pollute may allow for an efficient outcome.

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The consumption of positional goods engenders negative externalities, wherein the acquisition of such goods by one individual diminishes the utility or value of similar goods held by others within the same reference group. This positional externality, can lead to a cascade of overconsumption, as

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A positive production externality occurs when a firm's production increases the well-being of others but the firm is uncompensated by those others, while a positive consumption externality occurs when an individual's consumption benefits other but the individual is uncompensated by those others.

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is not paid by either the producers or users of motorized transport to the rest of society. Water pollution from mills and factories is another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. A positive externality is when an

2185:, argue an orthodox economic line that the only reason why goods produced unsustainably are usually cheaper than goods produced sustainably is due to a hidden subsidy, paid by the non-monetized human environment, community or future generations. These arguments are developed further by Hawken, 789:

Externalities can be either positive or negative. Governments and institutions often take actions to internalize externalities, thus market-priced transactions can incorporate all the benefits and costs associated with transactions between economic agents. The most common way this is done is by

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Some arguments against Pigovian taxes say that the tax does not account for all the transfers and regulations involved with an externality. In other words, the tax only considers the amount of externality produced. Another argument against the tax is that it does not take private property into

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to individuals. An example is the toxic gases that are released from industries or mines, these gases cause harm to individuals within the surrounding area and have to bear a cost (indirect cost) to get rid of that harm. Conversely, a positive externality is any difference between the private

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The effect that rising demand has on prices in marketplaces with intense competition is a typical illustration of pecuniary externalities. Prices rise in response to shifts in consumer preferences or income levels, which raise demand for a product and benefit suppliers by increasing sales and

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Externalities are the residual effects of economic activity on persons not directly participating in the transaction. The consequences of producer or consumer behaviors that result in external costs or advantages imposed on others are not taken into account by market pricing and can have both

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Command-and-control regulations act as an alternative to the incentive-based approach. They require a set quantity of pollution reduction and can take the form of either a technology standard or a performance standard. A technology standard requires pollution producing firms to use specified

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However, the most common type of solution is a tacit agreement through the political process. Governments are elected to represent citizens and to strike political compromises between various interests. Normally governments pass laws and regulations to address pollution and other types of

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In order to further understand transactional costs, it is crucial to discuss Ronald Coase's methodologies. The standard theory of externalities, which holds that internalizing external costs or benefits requires government action through measures like Pigovian taxes or regulations, has been

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produced in production exacerbate the numerous environmental and human impacts of anthropogenic climate change. These negative effects are not reflected in the cost of producing, nor in the market price of the final goods. There are many public and private solutions proposed to combat this

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without producing a solution. Conversely, the costs of managing the long-term risks of disposal of chemicals, which may remain hazardous on similar time scales, is not commonly internalized in prices. The USEPA regulates chemicals for periods ranging from 100 years to a maximum of 10,000

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In a dynamic setup, Rosenkranz and Schmitz (2007) have shown that the impossibility to rule out Coasean bargaining tomorrow may actually justify Pigouvian intervention today. To see this, note that unrestrained bargaining in the future may lead to an underinvestment problem (the so-called

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A positive externality (also called "external benefit" or "external economy" or "beneficial externality") is the positive effect an activity imposes on an unrelated third party. Similar to a negative externality, it can arise either on the production side, or on the consumption side.

1436:, 1899) refers to the consumption of goods or services primarily for the purpose of displaying social status or wealth. In simpler terms, individuals engange in conspicuous consumption to signal their economic standing or to gain social recognition. Positional goods (introduced by 1305:

can increase economic welfare by providing transit services to other economic activities, however the benefits of those other economic activities are not felt by the operator, it can also decrease the negative externalities of increasing road patronage in the absence of a

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Clearly, we have compiled a record of serious failures in recent technological encounters with the environment. In each case, the new technology was brought into use before the ultimate hazards were known. We have been quick to reap the benefits and slow to comprehend the

2083:, is a tax levied on each unit of pollution produced in the production of a good or service. The tax incentivised producers to either lower their production levels or to undertake abatement activities that reduce emissions by switching to cleaner technology or inputs. 1953:

The use of taxes and subsidies in solving the problem of externalities Correction tax, respectively subsidy, means essentially any mechanism that increases, respectively decreases, the costs (and thus price) associated with the activities of an individual or company.

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others, lest her chances of landing the job fall. But this outcome may be inefficient since when all spend more, each candidate's probability of success remains unchanged. All may agree that some form of collective restraint on expenditure would be useful."

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Demand curve with external costs; if social costs are not accounted for price is too low to cover all costs and hence quantity produced is unnecessarily high (because the producers of the good and their customers are essentially underpaying the total, real

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the consumer and does not cause a market inefficiency. The externality only affects at the inframarginal range outside where the market clears. These types of externalities do not cause inefficient allocation of resources and do not require policy action.

1440:, 1977) are such goods, whose value is heavily contingent upon how they compare to similar goods owned by others. Their desirability is or derived utility is intrinsically tied to their relative scarcity or exclusivity within a particular social context. 1917:

taxes that the government must impose elsewhere. Governments justify the use of Pigovian taxes saying that these taxes help the market reach an efficient outcome because this tax bridges the gap between marginal social costs and marginal private costs.

1557:. Similarly, there might be two curves for the demand or benefit of the good. The social demand curve would reflect the benefit to society as a whole, while the normal demand curve reflects the benefit to consumers as individuals and is reflected as 1744:. This latter again reflect the idea that the marginal social benefit should equal the marginal social cost, i.e., that production should be increased as long as the marginal social benefit exceeds the marginal social cost. The result in an 927:

Externalities may arise between producers, between consumers or between consumers and producers. Externalities can be negative when the action of one party imposes costs on another, or positive when the action of one party benefits another.

1379:). This will increase the usefulness of such phones to other people who have a video cellphone. When each new user of a product increases the value of the same product owned by others, the phenomenon is called a network externality or a 1177:, caused by increased usage of antibiotics: Individuals do not consider this efficacy cost when making usage decisions. Government policies proposed to preserve future antibiotic effectiveness include educational campaigns, regulation, 742:

or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer market transactions.

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third party costs and benefits, for example, by requiring a polluter to repair any damage caused. But in many cases, internalizing costs or benefits is not feasible, especially if the true monetary values cannot be determined.

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Frank notes that treating positional externalities like other externalities might lead to "intrusive economic and social regulation." He argues, however, that less intrusive and more efficient means of "limiting the costs of

879:, and since Pareto efficiency underpins the justification for private property, they undermine the whole idea of a market economy. For these reasons, negative externalities are more problematic than positive externalities. 1107:; air quality problems; the contamination of rivers, streams, and coastal waters with concentrated animal waste; animal welfare problems, mainly as a result of the extremely close quarters in which the animals are housed." 1473:

are those which affect a third party's profit but not their ability to produce or consume. These externalities "occur when new purchases alter the relevant context within which an existing positional good is evaluated."

1205:" and are distinguished from "real externalities" or "technological externalities". Pecuniary externalities appear to be externalities, but occur within the market mechanism and are not considered to be a source of 1187:: Shared costs of declining health and vitality caused by smoking or alcohol abuse. Here, the "cost" is that of providing minimum social welfare. Economists more frequently attribute this problem to the category of 1133:

for more than 1,000 years (over 100,000 for some types of nuclear waste) is, in principle, included in the cost of the electricity the plant produces in the form of a fee paid to the government and held in the

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Price increases: Consumption by one party causes prices to rise and therefore makes other consumers worse off, perhaps by preventing, reducing or delaying their consumption. These effects are sometimes called

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Supply curve with external benefits; when the market does not account for the additional social benefits of a good both the price for the good and the quantity produced are lower than the market could bear.

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However, the Coase theorem is difficult to implement because Coase does not offer a negotiation method. Moreover, Coasian solutions are unlikely to be reached due to the possibility of running into the

1492:"—i.e., the hypothesized increase in spending of middle-income families beyond their means "because of indirect effects associated with increased spending by top earners"—exist; one such method is the 830:

A negative externality is any difference between the private cost of an action or decision to an economic agent and the social cost. In simple terms, a negative externality is anything that causes an

1197:: When more people use public roads, road users experience congestion costs such as more waiting in traffic and longer trip times. Increased road users also increase the likelihood of road accidents. 1922:

consideration. Under the Pigovian system, one firm, for example, can be taxed more than another firm, even though the other firm is actually producing greater amounts of the negative externality.

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Buekers, Jurgen; Dons, Evi; Elen, Bart; Int Panis, Luc (December 2015). "Health impact model for modal shift from car use to cycling or walking in Flanders: application to two bicycle highways".

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solution is needed, such as a court system to allow parties affected by the pollution to be compensated, government intervention banning or discouraging pollution, or economic incentives such as

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Anything that reduces the rate of transmission of an infectious disease carries positive externalities. This includes vaccines, quarantine, tests and other diagnostic procedures. For airborne

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in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the marginal damage or marginal external cost, (later called a "

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costs. Hence the most common approach may be to regulate the firm (by imposing limits on the amount of pollution considered "acceptable") while paying for the regulation and enforcement with

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will allow confidential sharing of information among members, reducing the positive externalities that would occur if the information were shared in an economy consisting only of individuals.

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Kapp, Karl William (1971) Social costs, neo-classical economics and environmental planning. The Social Costs of Business Enterprise, 3rd edition. K. W. Kapp. Nottingham, Spokesman: 305–18

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Torfs R, Int Panis L, De Nocker L, Vermoote S (2004). Peter Bickel, Rainer Friedrich (eds.). "Externalities of Energy Methodology 2005 Update Other impacts: ecosystems and biodiversity".

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Buekers, Jurgen; Van Holderbeke, Mirja; Bierkens, Johan; Int Panis, Luc (December 2014). "Health and environmental benefits related to electric vehicle introduction in EU countries".

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argues that the concept of "externality" is a misnomer. In fact the modern business enterprise operates on the basis of shifting costs onto others as normal practice to make profits.

2709:, p. 80 (Island Press 2012): "Economists often say that externalities need to be 'internalized,' meaning that some action needs to be taken to correct this kind of market failure." 1844:

The central planner can decide to create and allocate jobs in industries that work to mitigate externalities, rather than waiting for the market to create a demand for these jobs.

894:

There are a number of theoretical means of improving overall social utility when negative externalities are involved. The market-driven approach to correcting externalities is to

778:

cannot reflect the true costs or benefits of that product or service for society as a whole. This causes the externality competitive equilibrium to not adhere to the condition of

1401:

fire protection services provide a positive externality to neighboring properties, which are less at risk of the protected neighbor's fire spreading to their (unprotected) house.

810:

resource allocation. Throughout the 20th century, the concept of externalities continued to evolve with advancements in economic theory and empirical research. Scholars such as

2799: 1517:

Technological externalities directly affect a firm's production and therefore, indirectly influence an individual's consumption; and the overall impact of society; for example

1011:"The corporation is an externalizing machine (moving its operating costs and risks to external organizations and people), in the same way that a shark is a killing machine." - 9277: 9287: 9282: 1565:

will be two demand curves instead (private and social benefit). This distinction is essential when it comes to resolving inefficiencies that are caused by externalities.

2195: 1761:, the social benefit is greater than the societal cost, so society as a whole would be better off if more goods had been produced. The problem is that people are buying 982:

is an example of an externality because the consumption of street lighting has an effect on bystanders that is not compensated for by the consumers of the lighting.

6332: 4618: 4402: 4814: 1549:

that consumers pay as individuals for additional quantities of the good, which in competitive markets, is the marginal private cost. The other curve is the

4792: 4237:"Spash, C. L. (2007) The economics of climate change impacts à la Stern: Novel and nuanced or rhetorically restricted? Ecological Economics 63(4): 706–13" 4755: 2634: 1602:. This is represented by the vertical distance between the two supply curves. It is assumed that there are no external benefits, so that social benefit 915:

sometimes refer to externalities as "neighborhood effects" or "spillovers", although externalities are not necessarily minor or localized. Similarly,

8776: 6124: 4611: 713: 1637:. These latter reflect the idea that the marginal social benefit should equal the marginal social cost, that is that production should be increased 5921: 2896:

Rabl A, Hurley F, Torfs R, Int Panis L, De Nocker L, Vermoote S, Bickel P, Friedrich R, Droste-Franke B, Bachmann T, Gressman A, Tidblad J (2005).

4148: 855:

A voluntary exchange may reduce societal welfare if external costs exist. The person who is affected by the negative externalities in the case of

5971: 5444: 2116:"Relative percentage price increases for broad categories when externalities of greenhouse gas emissions are included in the producer's price." 1930:

environmental harm. These laws and regulations can take the form of "command and control" regulation (such as enforcing standards and limiting

5531: 4829: 4824: 4797: 1946:

or the creation of markets for ecological services). The second type of resolution is a purely private agreement between the parties involved.

2174:(although the Stern report itself does employ discounting and has been criticized for this and other reasons by ecological economists such as 9320: 6091: 4782: 4730: 2255: 9267: 8739: 8695: 4804: 4777: 4750: 4725: 6325: 5822: 4598: 2820: 863:: either subjective displeasure or potentially explicit costs, such as higher medical expenses. The externality may even be seen as a 7500: 6881: 5523: 5136: 4876: 1853:

There are several general types of solutions to the problem of externalities, including both public- and private-sector resolutions:

1265:

of surrounding crops by the bees. The value generated by the pollination may be more important than the value of the harvested honey.

822:

and resource depletion underscore the enduring relevance of the concept of externalities in addressing pressing societal challenges.

6999: 5406: 5401: 5121: 4745: 1594:). The marginal private cost is less than the marginal social or public cost by the amount of the external cost, i.e., the cost of 3540: 9245: 5805: 5396: 4740: 1139: 799: 1991:

If all of these conditions apply, the private parties can bargain to solve the problem of externalities. The second part of the

6886: 6085: 5645: 5527: 5497: 5126: 4236: 2162:(NCE) assumption that environmental and community costs and benefits are mutually cancelling "externalities" is not warranted. 818:

made significant contributions to the understanding of externalities and their implications for market efficiency and welfare.

17: 4407:

Berger, Sebastian (2017) The Social Costs of Neoliberalism: Essays in the Economics of K. William Kapp. Nottingham: Spokesman.

9362: 8769: 6318: 6117: 5785: 5590: 5385: 5141: 4819: 4514: 4471: 3740: 3496: 3471: 2945: 2912: 2728: 2661: 2618: 2406: 2364: 706: 2723:. Classics in economics series (First issued in hardback ed.). London New York: Routledge, Taylor & Francis Group. 9445: 6941: 5236: 5084: 4275:

Hawken, Paul; Amory and Hunter Lovins (2000) "Natural Capitalism: Creating the Next Industrial Revolution" (Back Bay Books)

3042: 2095:

The emissions fee and cap and trade systems are both incentive-based approaches to solving a negative externality problem.

1716:

If consumers only take into account their own private benefits from getting vaccinations, the market will end up at price

9337: 7743: 7666: 6577: 5437: 5089: 4735: 4720: 2120:

A 2020 scientific analysis of external climate costs of foods indicates that external greenhouse gas costs are typically

2112: 3017: 1950:

agreement between the parties involved. This resolution may even come about because of the threat of government action.

5818: 5769: 5186: 5000: 4990: 4911: 4834: 4582:(2008) Externalities. In: Palgrave Macmillan (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London 4211: 1590:

is assumed to be selling in a competitive market – before pollution-control laws were imposed and enforced (e.g. under

627: 285: 9342: 9046: 6871: 5535: 5411: 5020: 5005: 4839: 4787: 3207: 2849: 2788:, The Review of Economic Studies, Volume 72, Issue 3, July 2005, Pages 885–915, doi: 10.1111/j.1467-937X.2005.00355.x 9425: 9041: 8858: 8762: 6762: 6110: 5550: 5067: 4881: 4772: 4762: 4173: 3308: 1841:, production is typically limited only to necessity, which would eliminate externalities created by overproduction. 1553:

cost that society as a whole pays for production and consumption of increased production the good, or the marginal

839:

Pareto optimum, therefore, is at the levels in which the social marginal benefit equals the social marginal cost.

699: 53: 4328:

Einsentein, Charles (2011), "Sacred Economics: Money, Gift and Society in an Age in Transition" (Evolver Editions)

1658:, the social benefit is less than the social cost, so society as a whole would be better off if the goods between 6896: 6522: 5781: 5777: 5759: 5688: 5505: 5201: 4950: 4928: 4886: 4856: 4809: 4692: 4675: 4658: 4634: 3347: 1369: 1216:, air pollution, climate change, work misallocation, resource requirements and land/space requirements as in the 1003:

Many negative externalities are related to the environmental consequences of production and use. The article on

8177: 6612: 6527: 6074: 6031: 6026: 5519: 5430: 4906: 4901: 3978: 1365: 456: 867:

on their health or violating their property rights (by reduced valuation). Thus, an external cost may pose an

8147: 8137: 7830: 6259: 6021: 5635: 5072: 5010: 3928: 2158:

and integration of different sciences in the concept. Ecological economics is founded upon the view that the

481: 404: 180: 8358: 9372: 9272: 9083: 8922: 8297: 8270: 7191: 6992: 6961: 6911: 6772: 6239: 5966: 5453: 4668: 4410:

Berger, Sebastian (ed) (2015) The Heterodox Theory of Social Costs - by K. William Kapp. London: Routledge.

2240: 2121: 1935: 1217: 1046: 655: 471: 5221: 1335:

An individual who maintains an attractive house may confer benefits to neighbors in the form of increased

9223: 8883: 8863: 8724: 8705: 8282: 8127: 8093: 8078: 8057: 8052: 7485: 7437: 7125: 6926: 5996: 5889: 5852: 5826: 5729: 5039: 4923: 4680: 3874:

Rosenkranz, Stephanie; Schmitz, Patrick W. (2007). "Can Coasean Bargaining Justify Pigouvian Taxation?".

3381: 3324: 1016: 424: 409: 290: 4310:

Kapp, Karl William (1963) The Social Costs of Business Enterprise. Bombay/London, Asia Publishing House.

3080:. The University of California Transportation Center, University of California at Berkeley. p. 213. 1299:

A foreign firm that demonstrates up-to-date technologies to local firms and improves their productivity.

1296:

Restored historic buildings may encourage more people to visit the area and patronize nearby businesses.

1088:: the risks to the overall economy arising from the risks that the banking system takes. A condition of 9435: 9218: 8699: 8275: 7965: 7955: 7147: 7135: 7130: 7120: 6299: 5936: 5880: 5814: 5714: 5693: 2897: 1448: 1347:, it also includes masking. For waterborne diseases, it includes improved sewers and sanitation. (See 798:

The term "externality" was first coined by the British economist Alfred Marshall in his seminal work, "

394: 389: 374: 847:

society may endeavor to get results that optimize aggregate well-being and foster sustainable growth.

9440: 9332: 7845: 7565: 7090: 7041: 6966: 6891: 6184: 5961: 5810: 5674: 5309: 5261: 5156: 5049: 4933: 774:

Externalities often occur when the production or consumption of a product or service's private price

526: 419: 157: 5216: 9404: 9382: 9262: 9185: 8729: 8675: 8418: 8373: 8212: 8083: 7960: 7231: 7100: 6921: 5991: 5899: 5862: 5831: 5744: 5698: 5501: 5457: 5314: 5269: 5171: 4896: 4712: 3846: 3199: 1283: 1277: 1135: 1115: 1050: 1007:

also addresses externalities and how they may be addressed in the context of environmental issues.

597: 496: 429: 275: 265: 240: 195: 8433: 2132: 9430: 9357: 8810: 8383: 8217: 8207: 8197: 8187: 7925: 7915: 7875: 7865: 7738: 7659: 7633: 7530: 7525: 7475: 7348: 7226: 6985: 6602: 6381: 6269: 6133: 6046: 6036: 5986: 5630: 5625: 5361: 5299: 4702: 4074:"Calculation of external climate costs for food highlights inadequate pricing of animal products" 3422: 2864:

Barry Commoner "Frail Reeds in a Harsh World". New York: The American Museum of Natural History.

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Stewart, Frances; Ghani, Ejaz (June 1991). "How significant are externalities for development?".

2275: 2249: 2140: 1470: 1437: 1422: 1202: 1004: 670: 521: 476: 461: 446: 441: 384: 307: 124: 94: 89: 61: 6856: 3843:

Varian, Hal (1994). "A Solution to the Problem of Externalities When Agents Are Well Informed."

2932: 1015:(2003) Republican candidate for Senate from Maine and corporate governance adviser in the film " 9347: 9210: 9138: 9103: 8820: 8553: 8398: 8258: 8201: 8157: 8120: 7870: 7810: 7785: 7755: 7728: 7550: 7510: 7505: 7287: 7258: 7115: 7037: 6951: 6825: 6820: 6391: 6294: 6040: 6011: 5773: 5580: 5304: 5131: 4339: 2264: 2159: 1914: 1545:. An extra supply or demand curve is added, as in the diagrams below. One of the curves is the 1119: 607: 511: 506: 501: 451: 312: 295: 3003: 1957:

The private-sector may sometimes be able to drive society to the socially optimal resolution.

1641:

as long as the marginal social benefit exceeds the marginal social cost. The result is that a

1459:

individuals strive to maintain or improve their relative position through excessive spending.

1060:

says "Climate change presents a unique challenge for economics: it is the greatest example of

1043:. This activity causes damages to crops, materials and (historic) buildings and public health. 886: 9310: 9190: 9078: 9068: 9051: 9007: 8905: 8825: 8785: 8685: 8368: 8343: 8328: 8302: 8241: 7920: 7860: 7840: 7835: 7495: 7480: 7196: 6622: 6567: 6421: 6341: 6244: 6001: 5800: 5719: 5610: 5575: 4687: 3552: 2705: 1579: 1360:

of individuals, as this can lead to broader society benefits in the form of greater economic

1336: 1213: 1174: 1104: 665: 612: 541: 280: 134: 752: 42: 9327: 9230: 9133: 9073: 8982: 8977: 8873: 8815: 8800: 8734: 8438: 8182: 8152: 8105: 8068: 7994: 7945: 7910: 7850: 7815: 7750: 7733: 7545: 7465: 7397: 7312: 7206: 7142: 6722: 6542: 6496: 6491: 6214: 6006: 5941: 5515: 5289: 5057: 4697: 4663: 4653: 4579: 4085: 2270: 2151: 1985: 1896: 1895:

Voting to cause participants to internalize externalities subject to the conditions of the

1883: 1518: 1489: 1286:, since much of the economic benefits of research are not captured by the originating firm. 775: 660: 531: 270: 250: 235: 230: 7683: 5422: 3246: 1609:

If the consumers only take into account their own private cost, they will end up at price

8: 9240: 9170: 8664: 8473: 8292: 8192: 8172: 8132: 8088: 8073: 8029: 7970: 7895: 7885: 7855: 7778: 7560: 7387: 7236: 7179: 7022: 6657: 6562: 6517: 6189: 6154: 5976: 5926: 5885: 5620: 5493: 5351: 5344: 5284: 5181: 5176: 4851: 4011:

Arrow, Kenneth, "Political and Economic Evaluation of Social Effects and Externalities",

2759: 2163: 1493: 592: 536: 491: 260: 255: 8333: 7765: 4089: 2225: – A theoretical concept in resource allocation to explain economic decision-making 9315: 9058: 9036: 9031: 8949: 8944: 8900: 8719: 8690: 8648: 8453: 8162: 8142: 8110: 8024: 8019: 7999: 7950: 7890: 7880: 7825: 7820: 7652: 7470: 7416: 7343: 7253: 7211: 7201: 7169: 7164: 7110: 7105: 6767: 6737: 6677: 6537: 6396: 6274: 6254: 6249: 6064: 5836: 5764: 5669: 5615: 5366: 5324: 5319: 5279: 5231: 4995: 4891: 4767: 4568: 4560: 4442: 4423: 4362: 4200: 4174:"Organic meats found to have approximately the same greenhouse impact as regular meats" 4114: 4073: 3959: 3909: 3799: 3782:

Barnett, A. H.; Yandle, Bruce (24 June 2009). "The end of the externality revolution".

3601: 3537: 3289: 3155: 2588: 2553: 2506: 2459: 2387:"Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements?" 2208: 2035: 2027: 1307: 1194: 1093: 1012: 764: 632: 617: 516: 486: 466: 3491:. A twentieth century fund study (Repr ed.). London: Routledge & Kegan Paul. 3438: 3373: 2525: 1384: 1103:, including "the increase in the pool of antibiotic-resistant bacteria because of the 9235: 9195: 9148: 8972: 8954: 8842: 8583: 8558: 8468: 8348: 8236: 8039: 7975: 7940: 7930: 7800: 7603: 7591: 7570: 7540: 7402: 7326: 7282: 6815: 6717: 6667: 6481: 6264: 6194: 6164: 6060: 6016: 5754: 5684: 5654: 5600: 5479: 5241: 5116: 5062: 4861: 4846: 4572: 4528: 4520: 4510: 4467: 4452: 4207: 4119: 4101: 3913: 3901: 3887: 3803: 3736: 3605: 3492: 3467: 3386: 3328: 3293: 3270:"Determinants of Horizontal Spillovers from FDI: Evidence from a Large Meta-Analysis" 3203: 3159: 3147: 2999: 2941: 2908: 2845: 2724: 2690: 2657: 2614: 2545: 2498: 2451: 2447: 2402: 2360: 2322: 2204: 1979: 1838: 1777: 1538: 1455:

inefficient allocation of resources and exacerbate income inequality within society.

1444: 876: 779: 587: 576: 399: 327: 119: 114: 8508: 4446: 4366: 4243: 3187:

Gruber, J. (2010) Public Finance and Public Policy, Worth Publishers. G-8 (Glossary)

2510: 2463: 1082:

during the production process, which may be mentally and psychologically disruptive.

9257: 9153: 9143: 8915: 8832: 8633: 8578: 8563: 8548: 8533: 8463: 8443: 8423: 8378: 7985: 7935: 7905: 7900: 7790: 7716: 7555: 7535: 7442: 7392: 7363: 7221: 7186: 7083: 7061: 6956: 6936: 6830: 6682: 6672: 6582: 6532: 6446: 6289: 6199: 6159: 5565: 5196: 5191: 5166: 4965: 4938: 4552: 4502: 4435: 4354: 4109: 4093: 3993: 3951: 3943: 3891: 3883: 3791: 3711: 3701: 3628: 3593: 3569:

Liebowitz, S.J.; Margolis, Stephen E., "Network Externality: An Uncommon Tragedy",

3556: 3442: 3434: 3421:

Alesina, Alberto; Hausmann, Ricardo; Hommes, Rudolf; Stein, Ernesto (August 1999).

3411:

Weisbrod, Burton, 1962. External Benefits of Public Education, Princeton University

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Positional externalities are related, but not similar to Percuniary externalities.

1433: 1387:" where, suddenly, the product reaches general acceptance and near-universal usage. 1302: 1289:

An industrial company providing first aid classes for employees to increase on the

1159: 919:

argues that externalities arise from lack of "clear personal property definition."

916: 815: 581: 379: 317: 185: 152: 8513: 4603: 4041: 3220: 9175: 9002: 8744: 8638: 8603: 8568: 8503: 8428: 8413: 8307: 8263: 8100: 8034: 8009: 8004: 7980: 7711: 7696: 7623: 7095: 7032: 6866: 6782: 6742: 6707: 6692: 6662: 6557: 6401: 6224: 6204: 6144: 5734: 5664: 5570: 5540: 5489: 5484: 5468: 5329: 5246: 5226: 5206: 5106: 4955: 4540: 4494: 4482: 4285: 3544: 3533: 2047: 2031: 1599: 1537:

The usual economic analysis of externalities can be illustrated using a standard

1475: 1426: 1394: 1184: 1178: 1168: 1100: 1079: 1067: 979: 912: 908: 782:. Thus, since resources can be better allocated, externalities are an example of 760: 548: 347: 302: 190: 3654:"Environmental and Natural Resource Economics" by Tom Tietenberg and Lynne Lewis 3645:"Environmental and Natural Resource Economics" by Tom Tietenberg and Lynne Lewis 1421:

The sociological basis of Positional externalities is rooted in the theories of

9205: 9120: 9110: 9098: 9014: 8987: 8932: 8878: 8658: 8643: 8608: 8593: 8573: 8543: 8363: 8014: 7723: 7691: 7598: 7338: 7297: 7216: 7008: 6916: 6876: 6840: 6787: 6712: 6597: 6592: 6461: 6451: 6436: 6234: 6219: 6149: 5605: 5460: 5356: 5251: 5151: 5079: 4866: 4506: 4498: 4459: 4286:

The Environmentalism of the Poor: A Study of Ecological Conflicts and Valuation

4197: 4134: 4097: 3059: 2928: 2222: 2135:

and concludes that contemporary monetary evaluations are "inadequate" and that

2067: 1995:

asserts that, when these conditions hold, whoever holds the property rights, a

1797: 1587: 1398: 1380: 1206: 1061: 991: 783: 739: 685: 680: 675: 650: 602: 558: 436: 414: 357: 322: 220: 210: 99: 45:

is not compensated for by either the producers or users of motorized transport.

8393: 4358: 3795: 3632: 3597: 3062:"Proc Putting Meat on The Table: Industrial Farm Animal Production in America" 2386: 1209:

or inefficiency, although they may still result in substantial harm to others.

975: 9419: 9305: 9252: 9180: 9026: 8837: 8623: 8613: 8588: 8528: 8523: 8518: 8498: 8488: 8458: 8448: 8353: 8253: 8226: 7990: 7520: 7420: 7411: 7382: 7368: 7358: 7302: 7066: 7056: 7046: 6906: 6835: 6607: 5951: 5339: 5294: 5274: 5096: 4871: 4532: 4486: 4299:

The Social Costs of Neoliberalism: Essays on the Economics of K. William Kapp

4105: 3905: 3706: 3689: 3390: 3332: 3151: 3024: 2549: 2502: 2455: 2398: 2344: 2326: 2234: 2190: 1992: 1966: 1905:

or negotiation between those affected by externalities and those causing them

1801: 1785: 1595: 1591: 1522: 1406: 1391: 1349: 1269: 1130: 1126: 1085: 1036: 904: 856: 831: 748: 744: 367: 362: 352: 332: 245: 225: 205: 104: 84: 38: 34: 3398: 3078:

Road Pricing for Congestion Management: The Transition from Theory to Policy

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This discussion implies that negative externalities (such as pollution) are

1375:

An individual buying a product that is interconnected in a network (e.g., a

1171:: Sleep deprivation due to a neighbor listening to loud music late at night. 9399: 9387: 9088: 8868: 8653: 8598: 8493: 8483: 8478: 8403: 8248: 7773: 7701: 7490: 7322: 7317: 7051: 6931: 6810: 6777: 6752: 6687: 6627: 6587: 6476: 6456: 6441: 6209: 6169: 5931: 5545: 5032: 5027: 5015: 4975: 4960: 4648: 4123: 3997: 2186: 2171: 2129: 1958: 1910: 1867: 1861: 1857: 1769: 1750: 1672:

had not been produced. The problem is that people are buying and consuming

1647: 1361: 1314: 1188: 1089: 1055: 1040: 811: 806: 768: 622: 337: 215: 129: 8754: 6102: 4072:

Pieper, Maximilian; Michalke, Amelie; Gaugler, Tobias (15 December 2020).

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Why Inequality Matters: Lessons for Policy from the Economics of Happiness

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Knight, Frank H., "Some Fallacies in the Interpretation of Social Cost",

2494: 2182: 2175: 2167: 1745: 1642: 1554: 1273: 1262: 1111: 6310: 3955: 3716: 3109: 3092: 2994:

White, Lawrence J.; McKenzie, Joseph; Cole, Rebel A. (3 November 2008),

2979: 2962: 2907:. Luxembourg: European Commission Publications Office. pp. 75–129. 2478: 2310: 1586:

The graph shows the effects of a negative externality. For example, the

9377: 9367: 9125: 8910: 8895: 8888: 8789: 8538: 8338: 8115: 7275: 7027: 6946: 6901: 6757: 6747: 6617: 6552: 6501: 6416: 6174: 5895: 5679: 5211: 4564: 4427: 3963: 3896: 3447: 2592: 2571:

Buchanan, James; Wm. Craig Stubblebine (November 1962). "Externality".

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in the 1890s and achieved broader attention in the works of economist

162: 109: 4414:

Baumol, W. J. (1972). "On Taxation and the Control of Externalities".

3583: 2557: 2391:

The Theory and Practice of Command and Control in Environmental Policy

9063: 8997: 8964: 8388: 8318: 7675: 7586: 7353: 7270: 7265: 7078: 6732: 6371: 5981: 5905: 5795: 5790: 5709: 5704: 5585: 5334: 4980: 4202:

Getting Down to Earth: Practical Applications of Ecological Economics

3269: 2996:

Deregulation Gone Awry: Moral Hazard in the Savings and Loan Industry

2429:"Optimal Control of Externalities in the Presence of Income Taxation" 2385:

Kolstad, Charles D.; Ulen, Thomas S.; Johnson, Gary V. (2018-01-12),

2228: 2125: 2061: 1902: 1871: 1689: 1357: 1344: 1250: 872: 727: 553: 342: 4556: 4198:

Costanza, Robert; Segura, Olman; Olsen, Juan Martinez-Alier (1996).

3947: 2635:"How do externalities affect equilibrium and create market failure?" 2584: 2128:-subdomain – followed by conventional dairy products and lowest for 1261:. A side effect or externality associated with such activity is the 9392: 9019: 8937: 8167: 7378: 7373: 7248: 6861: 6792: 6697: 6406: 5956: 5946: 2541: 2258: – Adage of the impossibility of getting something for nothing 1053:

from the burning of fossil fuels and the rearing of livestock. The

864: 200: 4524: 3755:

Barthold, Thomas A. (1994). "Issues in the Design of Excise Tax."

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criticizes the concept of externality because there is not enough

1804:

this confers on society, so they may choose not to be vaccinated.

9352: 9158: 8992: 7432: 7331: 7243: 6977: 6637: 6361: 5161: 5111: 3061: 2193:

to promote their vision of an environmental capitalist utopia in

2011: 1889: 1781: 1443:

The economic concept of Positional externalities originates from

868: 860: 3309:"Review of Optimal Transit Subsidies: Comparison between Models" 2124:– conventional and organic to about the same extent within that 2010:

In some cases, the Coase theorem is relevant. For example, if a

69: 7618: 7407: 6471: 6366: 6229: 5724: 5595: 4985: 3538:

Are Positional Externalities Different from Other Externalities

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Concerning these externalities, some, like the eco-businessman

2136: 2019: 2015: 1939: 30: 4149:"Organic meat production just as bad for climate, study finds" 3124:

Gössling, Stefan; Kees, Jessica; Litman, Todd (1 April 2022).

2885:. European Commission Publications Office, Luxembourg: 229–37. 1776:. Examples include policies to accelerate the introduction of 1070:

from industrial effluents can harm plants, animals, and humans

7292: 7174: 7154: 6411: 6376: 5872: 4129: 4067: 4065: 3860:

Marney, G.A. (1971). "The ‘Coase Theorem:' A Reexamination."

3423:"Budget institutions and fiscal performance in Latin America" 3247:"The Positive Externalities of Historic District Designation" 2748:"Microeconomics" by Robert S. Pindyck and Daniel L. Rubinfeld 2570: 2267: – Self-interests causing depletion of a shared resource 2004: 1542: 1258: 7644: 2526:"Toward Unlimited Shareholder Liability for Corporate Torts" 7449: 6466: 6431: 6426: 5560: 5452: 4594:

ExternE – European Union project to evaluate external costs

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Environmental Economics for Tree Huggers and Other Skeptics

2196:

Natural Capitalism: Creating the Next Industrial Revolution

2107: 1254: 4399:

Environmental Economics and Natural Resource Management 5e

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keeping the trash orderly, and getting the house painted)

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Transportation Research Part D: Transport and Environment

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to compensate affected parties for negative externalities

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to limit activity that might cause negative externalities

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Another common cause of externalities is the presence of

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Hawken, Paul (1994) "The Ecology of Commerce" (Collins)

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in the absence of appropriate environmental governance.

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The depletion of the stock of fish in the ocean due to

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Negative Externalities and Evolutionary Implementation

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intended to redress economic injustices or imbalances.

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Pew Commission on Industrial Farm Animal Production.

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Gruber, J. (2018). Public Finance & Public Policy

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The issue of external benefits is related to that of

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diagram if the externality can be valued in terms of

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activities with positive or negative externalities.

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during the sending of unsolicited messages by email.

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Income, saving, and the theory of consumer behavior

3372:Spencer Graves; Douglas A. Samuelson (March 2022). 2868:. Journal of the American Museum of Natural History 1432:Conspicuous consumption (originally articulated by 4199: 3816:Coase, R.H. (1960). "The Problem of Social Cost." 3529: 3527: 3525: 3523: 3466:. Great minds series. New York: Prometheus Books. 3123: 2384: 2098: 2066:The negative effect of carbon emissions and other 2062:Solutions to greenhouse gas emission externalities 1096:, or in the presence of badly designed regulation. 759:The concept of externality was first developed by 43:costs of the air pollution for the rest of society 3873: 3833:(volume 44 ed.). Feb-2008. pp. 367–382. 3268:Iršová, Zuzana; Havránek, Tomáš (February 2013). 3091:Liebowitz, S. J; Margolis, Stephen E (May 1994). 3090: 2993: 2744: 2742: 2740: 1368:, greater household mobility and higher rates of 9417: 4539: 3977:Antràs, Pol; Staiger, Robert W (December 2012). 3664:Dahlman, Carl J., "The Problem of Externality", 3307:Elgar, Ilan; Kennedy, Christopher (2005-06-01). 3076:Small, Kenneth A.; José A. Gomez-Ibañez (1998). 3015: 2934:The Economics of Climate Change The Stern Review 2719:Knight, Frank Hyneman; Boyd, Richard H. (2017). 2613:. Santa Fe: Cengage Learning. pp. 198–199. 2611:Principios de Economía (Principles of Economics) 2523: 2308: 2018:in a way that has a negative impact on a nearby 1848: 5972:Environmental, social, and corporate governance 3520: 2905:Externalities of Energy Methodology 2005 Update 2656:(6th ed.). Worth Publishers. p. 334. 2524:Hansmann, Henry; Kraakman, Reinier (May 1991). 1730:as before, instead of the more efficient price 1293:. This may also save lives outside the factory. 4226:Pearce, Fred "Blueprint for a Greener Economy" 3267: 3175:Intermediate microeconomics: a modern approach 2961:Rao, Justin M; Reiley, David H (August 2012). 2815: 2813: 2737: 1796:Externalities often arise from poorly defined 8770: 7660: 6993: 6326: 6118: 5438: 4619: 4464:Public Goods, Redistribution and Rent Seeking 4413: 3979:"Offshoring and the Role of Trade Agreements" 3976: 3781: 3568: 2309:Boudreaux, Donald J.; Meiners, Roger (2019). 707: 41:is an example of a negative externality. The 3678:"The Problem of Social Cost" by Ronald Coase 3306: 2903:. 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"Prices vs. Quantities". 4113: 3926: 3895: 3715: 3705: 3577: 3446: 3313:Journal of Urban Planning and Development 3221:"Externalities - Definition and examples" 3141: 3108: 3043:"Report Targets Costs Of Factory Farming" 2978: 2960: 2839: 2479:"Limited Liability and the Known Unknown" 2333: 2256:There ain't no such thing as a free lunch 994:commented on the costs of externalities: 793: 5122:Effects of climate change on agriculture 3929:"Incomplete Contracts and Renegotiation" 3687: 2604: 2602: 2299: 2278: – Unforeseen outcomes of an action 2143:to be possible, appropriate and urgent. 2111: 2108:Scientific calculation of external costs 2086: 1699: 1572: 1313: 1158: 974: 885: 29: 27:In economics, an imposed cost or benefit 5806:Pollutant release and transfer register 4340:"The Brave New World of Carbon Trading" 4147:Carrington, Damian (23 December 2020). 3768:Nye, John (2008). "The Pigou Problem." 1886:of services with positive externalities 1140:Yucca Mountain nuclear waste repository 14: 9418: 5127:Effects of climate change on livestock 4480: 4383:by K. William Kapp. London: Routledge. 3735:. Worth Publishers. pp. 364–365. 3486: 3461: 3325:10.1061/(ASCE)0733-9488(2005)131:2(71) 3244: 3172: 3009: 2797: 2608: 2426: 1623:, instead of the more efficient price 961:Positive externalities in consumption 950:Negative externalities in consumption 9363:Psychological effects of Internet use 8758: 7648: 6981: 6314: 6106: 5591:Principles for Responsible Investment 5426: 4607: 4337: 3177:. New York, NY: W.W. Norton & Co. 3040: 2927: 2599: 2342: 1826: 1383:. Network externalities often have " 964:Positive externalities in production 953:Negative externalities in production 805:Additionally, the American economist 6080: 5381: 5237:Tropical cyclones and climate change 4381:The Heterodox Theory of Social Costs 3516:. New York: Oxford University Press. 3245:Romero, Ana Maria (1 January 2004). 3126:"The lifetime cost of driving a car" 2764:The Library of Economics and Liberty 1695: 875:problem. Negative externalities are 9338:Digital media use and mental health 7744:Agent-based computational economics 6578:Maintenance, repair, and operations 5270:Alternative fuel vehicle propulsion 3663: 3345: 3016:De Bandt, O.; Hartmann, P. (1998). 2476: 2203:to the current system. The work by 24: 7556:Microfoundations of macroeconomics 7007: 5770:Environmental full-cost accounting 4491:The Encyclopedia of Libertarianism 4390: 4206:. 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(June 2010). 4013:The Analysis of Public Output 3439:10.1016/S0304-3878(99)00012-7 2842:Economics and the Environment 2436:International Economic Review 2283: 1849:Solutions in market economies 1525:development by corporations. 1478:gives the following example: 1416: 1118:, which is vulnerable to the 405:Socially responsible business 181:Bright green environmentalism 9373:Social aspects of television 9273:Social media use in politics 8923:Missing white woman syndrome 6912:Kansai International Airport 6773:Transit-oriented development 6240:Parable of the broken window 5967:Environmental pricing reform 5498:environmental responsibility 4284:Martinez-Alier, Joan (2002) 3784:Social Philosophy and Policy 3018:What Is Systemic Risk Today? 2691:10.1016/0305-750X(91)90195-N 2351:, Routledge, pp. 3–22, 2241:Externalities of automobiles 2237: – Theorem in economics 2146: 1936:environmental pricing reform 1465: 1218:externalities of automobiles 1047:Anthropogenic climate change 656:Environmental pricing reform 7: 9446:Inefficiency in game theory 8884:Least objectionable program 7501:Civil engineering economics 7486:Statistical decision theory 7126:Income elasticity of demand 6887:Electric power transmission 5997:Market governance mechanism 5853:Global Reporting Initiative 5823:standards and certification 5730:Social return on investment 3688:Anderson, David A. (2020). 3382:Real-world economics review 2215: 2014:is planning to clear-cut a 1224: 970: 922: 410:Social return on investment 10: 9462: 9219:Algorithmic radicalization 8276:Real business-cycle theory 7136:Price elasticity of supply 7131:Price elasticity of demand 7121:Cross elasticity of demand 6967:Transcontinental railroads 6613:Public–private partnership 6300:Tyranny of small decisions 5937:Community interest company 5881:Community-based monitoring 5715:Genuine progress indicator 4507:10.4135/9781412965811.n101 4481:Volokh, Alexander (2008). 4397:Anderson, David A. (2019) 4297:Berger, Sebastian (2017). 4288:. Cheltenham, Edward Elgar 4098:10.1038/s41467-020-19474-6 3512:Duesenberry, J.S. (1967). 3462:Veblen, Thorstein (1998). 3197:The success of open source 3041:Weiss, Rick (2008-04-30). 2427:Kaplow, Louis (May 2012). 2243: – Impacts of car use 1944:tradable pollution permits 1684:competitive markets. Some 1449:Relative Income Hypothesis 1397:, homeowners who purchase 1114:. This is an example of a 395:Pollution haven hypothesis 390:Natural resource economics 375:High-performance buildings 9333:Cultural impact of TikTok 9298: 9204: 9119: 8963: 8851: 8796: 8716: 8674: 8316: 8050: 7799: 7764: 7682: 7612: 7579: 7458: 7015: 6872:Bus rapid transit systems 6849: 6801: 6646: 6510: 6348: 6185:Excess burden of taxation 6140: 6055: 5962:Environmental degradation 5914: 5871: 5845: 5811:Sustainability accounting 5743: 5675:Ethical positioning index 5653: 5642: 5467: 5375: 5310:Environmental engineering 5260: 5157:Environmental degradation 5048: 4934:fishing down the food web 4711: 4641: 4359:10.1080/13563460903556049 3796:10.1017/S0265052509090190 3633:10.1016/j.jth.2015.08.003 3598:10.1016/j.trd.2014.09.002 2721:The ethics of competition 2609:Mankiw, Nicholas (1998). 2315:Natural Resources Journal 2141:reductions of these costs 1942:or other Pigovian taxes, 1791: 1533:Supply and demand diagram 158:Climate change mitigation 9405:Violence and video games 9383:Social impact of YouTube 9263:Knowledge gap hypothesis 9186:Social-desirability bias 9084:Information–action ratio 7192:Income–consumption curve 5992:Health impact assessment 5863:Sustainability reporting 5832:Toxics Release Inventory 5626:Transparency (behavioral 5601:Social impact assessment 5490:Corporate accountability 5315:Environmental mitigation 5172:Greenhouse gas emissions 5132:Environmental insecurity 4599:Econ 120 – Externalities 4416:American Economic Review 4301:. Nottingham: Spokesman. 3986:American Economic Review 3847:American Economic Review 3707:10.3390/economies8040100 3251:The Park Place Economist 2931:(2006). "Introduction". 2399:10.4324/9781315197296-16 2349:The Economics of Welfare 1784:, both of which benefit 1405:Collective solutions or 1284:Research and development 1116:common property resource 1051:greenhouse gas emissions 598:Environmental technology 241:Ecological modernization 196:Corporate sustainability 9426:Environmental economics 9358:Mass shooting contagion 8811:Evolutionary psychology 7916:Industrial organization 7739:Computational economics 7526:Industrial organization 6382:Critical infrastructure 6270:Self-defeating prophecy 6134:Unintended consequences 6047:Supply chain management 5987:Global justice movement 5786:profit-and-loss account 5362:Sustainable consumption 4703:Social ecology (ethics) 3489:Social limits to growth 2963:"The Economics of Spam" 2883:EUR 21951 EN – Extern E 2357:10.4324/9781351304368-1 2276:Unintended consequences 2250:Incentive compatibility 1471:Pecuniary externalities 1423:conspicuous consumption 1370:political participation 1203:pecuniary externalities 1136:nuclear waste superfund 1005:environmental economics 859:will see it as lowered 800:Principles of Economics 671:Green industrial policy 385:Marginal abatement cost 308:Fiscal environmentalism 125:Personal carbon trading 95:Carbon fee and dividend 90:Carbon emission trading 62:Environmental economics 9348:Fascination with death 9211:Political polarization 9139:Availability heuristic 9104:Television consumption 8121:Modern monetary theory 7786:Experimental economics 7756:Pluralism in economics 7729:Mathematical economics 6826:Mechanical engineering 6821:Electrical engineering 6528:Build–operate–transfer 6392:Electricity generation 6295:Tragedy of the commons 6012:SDG Publishers Compact 5774:Environmental conflict 5581:Organizational justice 5305:Ecological engineering 5085:runaway climate change 3998:10.1257/aer.102.7.3140 3864:Vol. 85 No. 4. 718–23. 2265:Tragedy of the commons 2160:neoclassical economics 2117: 1754:since at the quantity 1705: 1651:since at the quantity 1583: 1319: 1164: 1120:tragedy of the commons 1105:overuse of antibiotics 1021: 1001: 983: 891: 794:History of the concept 608:Fossil fuel divestment 46: 18:Positive externalities 9311:Criticism of Facebook 9191:Social influence bias 9079:Information pollution 9069:Information explosion 9052:Texting while driving 9008:Low information voter 8906:Pink-slime journalism 7496:Engineering economics 7091:Cost–benefit analysis 6962:Trans-Alaska pipeline 6568:Life-cycle assessment 6543:Engineering contracts 6422:Municipal solid waste 6342:Public infrastructure 6245:Paradox of enrichment 6002:Product certification 5801:Life-cycle assessment 5720:Performance indicator 5611:Social responsibility 5576:Organizational ethics 5506:social responsibility 4688:List of global issues 4493:. Thousand Oaks, CA: 4347:New Political Economy 4078:Nature Communications 3553:Brookings Institution 3487:Hirsch, Fred (1978). 3173:Varian, H.R. (2010). 2844:. Wiley. p. 32. 2784:William H. Sandholm, 2477:Sim, Michael (2018). 2139:-making that lead to 2115: 2087:Cap-and-trade systems 2079:An emissions fee, or 1976:People act rationally 1703: 1580:factors of production 1576: 1317: 1214:public infrastructure 1175:Antibiotic resistance 1162: 1009: 996: 978: 889: 666:Free public transport 613:Fossil fuel phase-out 135:Social cost of carbon 33: 9328:Criticism of Netflix 9134:Availability cascade 9074:Information overload 8983:Attention management 8978:Attention inequality 8874:Human-interest story 8816:Behavioral modernity 8801:Cognitive psychology 7995:Social choice theory 7751:Behavioral economics 7734:Complexity economics 7313:Price discrimination 7207:Intertemporal choice 6857:Akashi Kaikyō Bridge 6723:Mobile data terminal 6497:Water supply network 6492:Wastewater treatment 6215:Inverse consequences 6007:Public participation 5942:Conflict of interest 5532:inequality in the UK 5524:in the United States 5516:Environmental racism 5290:Community resilience 5090:in the United States 5058:Biodiversity threats 4731:cannabis cultivation 4698:Planetary boundaries 4664:Environmental issues 4654:Ecological footprint 4580:Jean-Jacques Laffont 4448:Economics of Welfare 4404:New York: Routledge. 3130:Ecological Economics 2800:"Free Rider Problem" 2530:The Yale Law Journal 2495:10.2139/ssrn.3121519 2271:True cost accounting 2152:Ecological economics 1986:Complete information 1897:efficient voter rule 1884:Government provision 1606:individual benefit. 1519:Open-source software 1490:expenditure cascades 1272:(studied notably by 1099:Negative effects of 1049:as a consequence of 988:negative externality 751:is one example. The 661:Environmental tariff 286:full-cost accounting 251:Efficient energy use 236:Ecological footprint 231:Ecological economics 9241:Post-truth politics 9171:Mean world syndrome 8079:American (National) 7779:Economic statistics 7624:Business portal 7561:Operations research 7388:Substitution effect 6927:Offshore wind farms 6738:Renewable resources 6658:Air traffic control 6563:Infrastructure bond 6190:Four Pests campaign 5977:Ethical consumerism 5927:Benefit corporation 5819:metrics and indices 5621:Sullivan principles 5536:injustice in Europe 5352:Restoration ecology 5285:Climate engineering 5222:Ocean acidification 5212:Loss of green belts 5182:Holocene extinction 5177:Habitat destruction 4852:Environmental crime 4501:. pp. 162–63. 4090:2020NatCo..11.6117P 4042:"Carbon Tax Basics" 3770:The Cato Institute. 3110:10.1257/jep.8.2.133 2980:10.1257/jep.26.3.87 2766:. Liberty Fund, Inc 2164:Joan Martinez Alier 1494:personal income tax 1409:are implemented to 1064:we have ever seen." 933: 907:economists such as 593:Carbon-neutral fuel 256:Energy conservation 9059:Influence-for-hire 9037:Media multitasking 9032:Human multitasking 8950:Tabloid television 8901:Media manipulation 7202:Indifference curve 7170:Goods and services 7111:Economies of scope 7106:Economies of scale 6768:Traffic congestion 6678:Congestion pricing 6482:Telecommunications 6397:Energy development 6275:Self-refuting idea 6255:Perverse incentive 6065:Environment portal 5837:Triple bottom line 5765:Emission inventory 5670:Double bottom line 5616:Stakeholder theory 5367:Waste minimization 5325:Mitigation banking 5320:Industrial ecology 5280:Cleaner production 5232:Resource depletion 4768:Corporate behavior 4726:animal agriculture 4044:. 20 October 2017. 4030:, pp. 582–606 3731:Gruber, Jonathan. 3668:, pp. 141–162 3573:, pp. 133–150 3559:, June 4–5, 2003). 3543:2012-12-21 at the 2652:Gruber, Jonathan. 2209:Charles Eisenstein 2118: 2036:free-rider problem 2028:assignment problem 1827:Possible solutions 1706: 1584: 1320: 1195:Traffic congestion 1165: 1094:banking regulation 984: 931: 892: 877:Pareto inefficient 633:Sustainable energy 618:Low-carbon economy 457:consumer behaviour 47: 9436:Welfare economics 9413: 9412: 9236:Fake news website 9196:Spiral of silence 9149:Confirmation bias 8973:Attention economy 8955:Yellow journalism 8843:Social psychology 8752: 8751: 8283:New institutional 7642: 7641: 7604:Political economy 7403:Supply and demand 7283:Pareto efficiency 6975: 6974: 6892:High-speed trains 6816:Civil engineering 6718:Land-use planning 6668:Bus rapid transit 6308: 6307: 6265:Risk compensation 6100: 6099: 6017:Social enterprise 5922:Bangladesh Accord 5782:management system 5778:impact assessment 5755:Carbon accounting 5685:Impact assessment 5636:UN Global Compact 5528:in Western Europe 5480:Aarhus Convention 5420: 5419: 5242:Water degradation 5117:Ecological crisis 5063:biodiversity loss 4862:Industrialisation 4847:Genetic pollution 4693:Impact assessment 4516:978-1-4129-6580-4 4473:978-1-84376-637-7 4453:Macmillan and Co. 4434:Johnson, Paul M. 3742:978-1-319-20584-3 3498:978-0-7100-8610-5 3473:978-1-57392-219-7 3274:World Development 3030:on 17 April 2003. 2947:978-0-521-70080-1 2914:978-92-79-00423-0 2730:978-1-56000-955-9 2703:Jaeger, William. 2679:World Development 2663:978-1-319-20584-3 2620:978-607-481-829-1 2513:– via SSRN. 2408:978-1-315-19729-6 2366:978-1-351-30436-8 2205:Karl William Kapp 2133:plant-based foods 2040:transaction costs 1980:Transaction costs 1932:process variables 1839:planned economies 1817:transaction costs 1778:electric vehicles 1746:unfettered market 1713:individual cost. 1696:External benefits 1539:supply and demand 1366:unemployment rate 1308:congestion charge 968: 967: 780:Pareto optimality 724: 723: 588:Carbon neutrality 577:2000-watt society 571:Energy transition 482:development goals 400:Social accounting 120:Environmental tax 115:Emissions trading 16:(Redirected from 9453: 9441:Public economics 9258:Knowledge divide 9154:Crowd psychology 9144:Bandwagon effect 8916:Public relations 8833:Media psychology 8779: 8772: 8765: 8756: 8755: 7956:Natural resource 7791:Economic history 7717:Mechanism design 7669: 7662: 7655: 7646: 7645: 7632: 7631: 7622: 7621: 7364:Returns to scale 7222:Market structure 7002: 6995: 6988: 6979: 6978: 6957:Three Gorges Dam 6937:Port of Shanghai 6831:Public economics 6683:Containerization 6673:Carbon footprint 6583:Natural monopoly 6452:Public utilities 6447:Public transport 6335: 6328: 6321: 6312: 6311: 6290:Streisand effect 6200:Hawthorne effect 6160:Butterfly effect 6155:Braess's paradox 6127: 6120: 6113: 6104: 6103: 6083: 6082: 6073: 6072: 6063: 5648: 5566:Little Eichmanns 5447: 5440: 5433: 5424: 5423: 5395: 5394: 5384: 5383: 5217:Phosphorus cycle 5197:Land consumption 5192:Land degradation 5167:Freshwater cycle 4966:Overexploitation 4939:marine pollution 4746:cocoa production 4628: 4621: 4614: 4605: 4604: 4576: 4541:Weitzman, Martin 4536: 4477: 4455: 4431: 4384: 4377: 4371: 4370: 4344: 4335: 4329: 4326: 4320: 4317: 4311: 4308: 4302: 4295: 4289: 4282: 4276: 4273: 4267: 4264: 4258: 4257: 4255: 4254: 4248: 4242:. Archived from 4241: 4233: 4227: 4224: 4218: 4217: 4205: 4195: 4189: 4188: 4186: 4184: 4170: 4164: 4163: 4161: 4159: 4144: 4138: 4133:Available under 4132: 4127: 4117: 4069: 4060: 4059: 4052: 4046: 4045: 4038: 4032: 4031: 4023: 4017: 4016: 4008: 4002: 4001: 3992:(7): 3140–3183. 3983: 3974: 3968: 3967: 3933: 3924: 3918: 3917: 3899: 3882:(296): 573–585. 3871: 3865: 3858: 3852: 3841: 3835: 3834: 3827: 3821: 3814: 3808: 3807: 3779: 3773: 3766: 3760: 3753: 3747: 3746: 3728: 3722: 3721: 3719: 3709: 3685: 3679: 3676: 3670: 3669: 3661: 3655: 3652: 3646: 3643: 3637: 3636: 3616: 3610: 3609: 3581: 3575: 3574: 3566: 3560: 3557:Washington, D.C. 3531: 3518: 3517: 3509: 3503: 3502: 3484: 3478: 3477: 3459: 3453: 3452: 3450: 3418: 3412: 3409: 3403: 3402: 3378: 3369: 3363: 3362: 3360: 3358: 3352:Economist's View 3343: 3337: 3336: 3304: 3298: 3297: 3265: 3259: 3258: 3242: 3236: 3235: 3233: 3231: 3217: 3211: 3194: 3188: 3185: 3179: 3178: 3170: 3164: 3163: 3145: 3121: 3115: 3114: 3112: 3088: 3082: 3081: 3073: 3067: 3065: 3057: 3051: 3050: 3038: 3032: 3031: 3029: 3022: 3013: 3007: 3006: 2991: 2985: 2984: 2982: 2958: 2952: 2951: 2939: 2925: 2919: 2918: 2902: 2893: 2887: 2886: 2878: 2872: 2862: 2856: 2855: 2837: 2831: 2830: 2828: 2827: 2817: 2808: 2807: 2795: 2789: 2782: 2776: 2775: 2773: 2771: 2755: 2749: 2746: 2735: 2734: 2716: 2710: 2701: 2695: 2694: 2674: 2668: 2667: 2649: 2643: 2642: 2631: 2625: 2624: 2606: 2597: 2596: 2568: 2562: 2561: 2521: 2515: 2514: 2483:Duke Law Journal 2474: 2468: 2467: 2433: 2424: 2418: 2417: 2416: 2415: 2382: 2376: 2375: 2374: 2373: 2340: 2331: 2330: 2306: 2297: 2294: 2261: 2246: 2068:greenhouse gases 1997:Pareto efficient 1969:, requires that 1559:effective demand 1427:positional goods 1303:Public transport 934: 930: 917:Ludwig von Mises 816:Harold Hotelling 716: 709: 702: 582:Alternative fuel 472:design standards 380:Impact investing 186:Circular economy 153:Carbon footprint 72: 49: 48: 21: 9461: 9460: 9456: 9455: 9454: 9452: 9451: 9450: 9416: 9415: 9414: 9409: 9294: 9209: 9200: 9176:Negativity bias 9124: 9115: 9003:Cognitive miser 8959: 8852:Media practices 8847: 8792: 8783: 8753: 8748: 8745:Business portal 8712: 8711: 8710: 8670: 8434:von Böhm-Bawerk 8322: 8321: 8312: 8084:Ancient thought 8062: 8061: 8055: 8046: 8045: 8044: 7795: 7760: 7712:Contract theory 7697:Decision theory 7678: 7673: 7643: 7638: 7616: 7608: 7575: 7454: 7096:Deadweight loss 7033:Consumer choice 7011: 7006: 6976: 6971: 6867:Brooklyn Bridge 6845: 6803: 6797: 6783:Waste-to-energy 6743:Reverse osmosis 6713:Hybrid vehicles 6708:High-speed rail 6693:Fuel efficiency 6663:Brownfield land 6650: 6648: 6642: 6558:Government debt 6506: 6402:Hazardous waste 6354: 6352: 6344: 6339: 6309: 6304: 6250:Parkinson's law 6145:Abilene paradox 6136: 6131: 6101: 6096: 6051: 5910: 5867: 5841: 5746: 5739: 5735:Whole-life cost 5665:Corporate crime 5656: 5649: 5640: 5571:Loss and damage 5541:Ethical banking 5485:Climate justice 5472: 5463: 5451: 5421: 5416: 5371: 5330:Organic farming 5256: 5247:Water pollution 5227:Ozone depletion 5207:Loss and damage 5107:Desertification 5044: 4956:Overconsumption 4877:cleaning agents 4778:Energy industry 4741:meat production 4707: 4637: 4632: 4590: 4585: 4557:10.2307/2296698 4517: 4483:"Externalities" 4474: 4393: 4391:Further reading 4388: 4387: 4378: 4374: 4342: 4336: 4332: 4327: 4323: 4318: 4314: 4309: 4305: 4296: 4292: 4283: 4279: 4274: 4270: 4265: 4261: 4252: 4250: 4246: 4239: 4235: 4234: 4230: 4225: 4221: 4214: 4196: 4192: 4182: 4180: 4172: 4171: 4167: 4157: 4155: 4145: 4141: 4070: 4063: 4054: 4053: 4049: 4040: 4039: 4035: 4024: 4020: 4015:, pp. 1–30 4009: 4005: 3981: 3975: 3971: 3948:10.2307/1912698 3931: 3925: 3921: 3872: 3868: 3859: 3855: 3842: 3838: 3829: 3828: 3824: 3815: 3811: 3780: 3776: 3767: 3763: 3754: 3750: 3743: 3729: 3725: 3686: 3682: 3677: 3673: 3662: 3658: 3653: 3649: 3644: 3640: 3617: 3613: 3582: 3578: 3567: 3563: 3545:Wayback Machine 3534:Robert H. Frank 3532: 3521: 3510: 3506: 3499: 3485: 3481: 3474: 3460: 3456: 3419: 3415: 3410: 3406: 3376: 3370: 3366: 3356: 3354: 3344: 3340: 3305: 3301: 3266: 3262: 3243: 3239: 3229: 3227: 3219: 3218: 3214: 3195: 3191: 3186: 3182: 3171: 3167: 3122: 3118: 3089: 3085: 3074: 3070: 3058: 3054: 3047:Washington Post 3039: 3035: 3027: 3020: 3014: 3010: 2992: 2988: 2959: 2955: 2948: 2937: 2929:Stern, Nicholas 2926: 2922: 2915: 2900: 2894: 2890: 2879: 2875: 2866:Natural History 2863: 2859: 2852: 2838: 2834: 2825: 2823: 2819: 2818: 2811: 2796: 2792: 2783: 2779: 2769: 2767: 2760:"Externalities" 2758:Caplan, Bryan. 2756: 2752: 2747: 2738: 2731: 2717: 2713: 2702: 2698: 2675: 2671: 2664: 2650: 2646: 2633: 2632: 2628: 2621: 2607: 2600: 2585:10.2307/2551386 2579:(116): 371–84. 2569: 2565: 2522: 2518: 2475: 2471: 2431: 2425: 2421: 2413: 2411: 2409: 2383: 2379: 2371: 2369: 2367: 2341: 2334: 2307: 2300: 2295: 2291: 2286: 2281: 2259: 2244: 2218: 2156:system thinking 2149: 2110: 2101: 2089: 2077: 2064: 2048:hold-up problem 2032:holdout problem 1851: 1834: 1829: 1798:property rights 1794: 1759: 1742: 1735: 1728: 1721: 1698: 1670: 1663: 1656: 1635: 1628: 1621: 1614: 1600:water pollution 1571: 1561:in the market. 1535: 1515: 1506: 1476:Robert H. Frank 1468: 1419: 1407:public policies 1395:fire department 1325: 1240: 1227: 1185:Passive smoking 1179:Pigouvian taxes 1169:Noise pollution 1150: 1080:Noise pollution 1068:Water pollution 1026: 1017:The Corporation 980:Light pollution 973: 925: 913:Milton Friedman 909:Friedrich Hayek 853: 828: 796: 761:Alfred Marshall 720: 691: 690: 646: 638: 637: 572: 564: 563: 549:Thermoeconomics 303:Ethical banking 191:Climate finance 176: 168: 167: 148: 140: 139: 80: 28: 23: 22: 15: 12: 11: 5: 9459: 9449: 9448: 9443: 9438: 9433: 9431:Market failure 9428: 9411: 9410: 9408: 9407: 9402: 9397: 9396: 9395: 9385: 9380: 9375: 9370: 9365: 9360: 9355: 9350: 9345: 9340: 9335: 9330: 9325: 9324: 9323: 9318: 9308: 9302: 9300: 9299:Related topics 9296: 9295: 9293: 9292: 9291: 9290: 9285: 9280: 9270: 9265: 9260: 9255: 9250: 9249: 9248: 9243: 9233: 9228: 9227: 9226: 9215: 9213: 9206:Digital divide 9202: 9201: 9199: 9198: 9193: 9188: 9183: 9178: 9173: 9168: 9167: 9166: 9161: 9151: 9146: 9141: 9136: 9130: 9128: 9121:Cognitive bias 9117: 9116: 9114: 9113: 9111:Sticky content 9108: 9107: 9106: 9101: 9099:Binge-watching 9091: 9086: 9081: 9076: 9071: 9066: 9061: 9056: 9055: 9054: 9049: 9044: 9039: 9029: 9024: 9023: 9022: 9015:Digital zombie 9012: 9011: 9010: 9000: 8995: 8990: 8988:Attention span 8985: 8980: 8975: 8969: 8967: 8961: 8960: 8958: 8957: 8952: 8947: 8942: 8941: 8940: 8933:Sensationalism 8930: 8925: 8920: 8919: 8918: 8913: 8908: 8898: 8893: 8892: 8891: 8886: 8881: 8879:Junk food news 8876: 8866: 8861: 8855: 8853: 8849: 8848: 8846: 8845: 8840: 8835: 8830: 8829: 8828: 8823: 8818: 8808: 8803: 8797: 8794: 8793: 8782: 8781: 8774: 8767: 8759: 8750: 8749: 8747: 8742: 8737: 8732: 8727: 8722: 8717: 8714: 8713: 8709: 8708: 8703: 8693: 8688: 8682: 8681: 8680: 8678: 8672: 8671: 8669: 8668: 8661: 8656: 8651: 8646: 8641: 8636: 8631: 8626: 8621: 8616: 8611: 8606: 8601: 8596: 8591: 8586: 8581: 8576: 8571: 8566: 8561: 8556: 8551: 8546: 8541: 8536: 8531: 8526: 8521: 8516: 8511: 8506: 8501: 8496: 8491: 8486: 8481: 8476: 8471: 8466: 8461: 8456: 8451: 8446: 8441: 8436: 8431: 8426: 8421: 8416: 8411: 8406: 8401: 8396: 8391: 8386: 8381: 8376: 8371: 8366: 8361: 8356: 8351: 8346: 8341: 8336: 8331: 8325: 8323: 8317: 8314: 8313: 8311: 8310: 8305: 8300: 8295: 8290: 8285: 8280: 8279: 8278: 8268: 8267: 8266: 8256: 8251: 8246: 8245: 8244: 8234: 8229: 8224: 8223: 8222: 8221: 8220: 8210: 8205: 8190: 8185: 8180: 8175: 8170: 8165: 8160: 8155: 8150: 8148:Disequilibrium 8145: 8140: 8135: 8130: 8125: 8124: 8123: 8113: 8108: 8103: 8098: 8097: 8096: 8086: 8081: 8076: 8071: 8065: 8063: 8051: 8048: 8047: 8043: 8042: 8037: 8032: 8027: 8022: 8017: 8012: 8007: 8002: 7997: 7988: 7983: 7978: 7973: 7968: 7963: 7961:Organizational 7958: 7953: 7948: 7943: 7938: 7933: 7928: 7923: 7918: 7913: 7908: 7903: 7898: 7893: 7888: 7883: 7878: 7873: 7868: 7863: 7858: 7853: 7848: 7843: 7838: 7833: 7828: 7823: 7818: 7813: 7807: 7806: 7805: 7803: 7797: 7796: 7794: 7793: 7788: 7783: 7782: 7781: 7770: 7768: 7762: 7761: 7759: 7758: 7753: 7748: 7747: 7746: 7736: 7731: 7726: 7724:Macroeconomics 7721: 7720: 7719: 7714: 7709: 7704: 7699: 7692:Microeconomics 7688: 7686: 7680: 7679: 7672: 7671: 7664: 7657: 7649: 7640: 7639: 7637: 7636: 7626: 7613: 7610: 7609: 7607: 7606: 7601: 7599:Macroeconomics 7596: 7595: 7594: 7583: 7581: 7577: 7576: 7574: 7573: 7568: 7563: 7558: 7553: 7548: 7543: 7538: 7533: 7528: 7523: 7518: 7513: 7508: 7503: 7498: 7493: 7488: 7483: 7478: 7473: 7468: 7462: 7460: 7456: 7455: 7453: 7452: 7447: 7446: 7445: 7440: 7430: 7425: 7424: 7423: 7414: 7400: 7395: 7390: 7385: 7376: 7371: 7366: 7361: 7356: 7351: 7346: 7341: 7336: 7335: 7334: 7329: 7320: 7315: 7310: 7305: 7300: 7298:Price controls 7290: 7285: 7280: 7279: 7278: 7273: 7268: 7263: 7262: 7261: 7256: 7246: 7241: 7240: 7239: 7234: 7219: 7217:Market failure 7214: 7209: 7204: 7199: 7194: 7189: 7184: 7183: 7182: 7177: 7167: 7162: 7157: 7152: 7151: 7150: 7140: 7139: 7138: 7133: 7128: 7123: 7113: 7108: 7103: 7098: 7093: 7088: 7087: 7086: 7081: 7076: 7071: 7070: 7069: 7059: 7054: 7044: 7035: 7030: 7025: 7019: 7017: 7013: 7012: 7009:Microeconomics 7005: 7004: 6997: 6990: 6982: 6973: 6972: 6970: 6969: 6964: 6959: 6954: 6949: 6944: 6939: 6934: 6929: 6924: 6919: 6917:Millau Viaduct 6914: 6909: 6904: 6899: 6894: 6889: 6884: 6879: 6877:Channel Tunnel 6874: 6869: 6864: 6859: 6853: 6851: 6847: 6846: 6844: 6843: 6841:Urban planning 6838: 6833: 6828: 6823: 6818: 6813: 6807: 6805: 6799: 6798: 6796: 6795: 6790: 6788:Weatherization 6785: 6780: 6775: 6770: 6765: 6760: 6755: 6750: 6745: 6740: 6735: 6730: 6725: 6720: 6715: 6710: 6705: 6700: 6695: 6690: 6685: 6680: 6675: 6670: 6665: 6660: 6654: 6652: 6644: 6643: 6641: 6640: 6635: 6630: 6625: 6620: 6615: 6610: 6605: 6600: 6598:Public finance 6595: 6593:Public capital 6590: 6585: 6580: 6575: 6570: 6565: 6560: 6555: 6550: 6545: 6540: 6535: 6530: 6525: 6520: 6514: 6512: 6508: 6507: 6505: 6504: 6499: 6494: 6489: 6484: 6479: 6474: 6469: 6464: 6462:Rail transport 6459: 6454: 6449: 6444: 6439: 6437:Public housing 6434: 6429: 6424: 6419: 6414: 6409: 6404: 6399: 6394: 6389: 6384: 6379: 6374: 6369: 6364: 6358: 6356: 6346: 6345: 6338: 6337: 6330: 6323: 6315: 6306: 6305: 6303: 6302: 6297: 6292: 6287: 6282: 6277: 6272: 6267: 6262: 6257: 6252: 6247: 6242: 6237: 6235:Osborne effect 6232: 6227: 6222: 6220:Jevons paradox 6217: 6212: 6207: 6202: 6197: 6195:Goodhart's law 6192: 6187: 6182: 6177: 6172: 6167: 6165:Campbell's law 6162: 6157: 6152: 6150:Adverse effect 6147: 6141: 6138: 6137: 6130: 6129: 6122: 6115: 6107: 6098: 6097: 6095: 6094: 6089: 6077: 6067: 6056: 6053: 6052: 6050: 6049: 6044: 6034: 6029: 6024: 6019: 6014: 6009: 6004: 5999: 5994: 5989: 5984: 5979: 5974: 5969: 5964: 5959: 5954: 5949: 5944: 5939: 5934: 5929: 5924: 5918: 5916: 5912: 5911: 5909: 5908: 5903: 5893: 5883: 5877: 5875: 5869: 5868: 5866: 5865: 5860: 5858:GxP guidelines 5855: 5849: 5847: 5843: 5842: 5840: 5839: 5834: 5829: 5808: 5803: 5798: 5793: 5788: 5767: 5762: 5757: 5751: 5749: 5741: 5740: 5738: 5737: 5732: 5727: 5722: 5717: 5712: 5707: 5702: 5696: 5691: 5682: 5677: 5672: 5667: 5661: 5659: 5651: 5650: 5643: 5641: 5639: 5638: 5633: 5628: 5623: 5618: 5613: 5608: 5606:Social justice 5603: 5598: 5593: 5588: 5583: 5578: 5573: 5568: 5563: 5558: 5553: 5548: 5543: 5538: 5513: 5508: 5502:responsibility 5487: 5482: 5476: 5474: 5465: 5464: 5461:accountability 5450: 5449: 5442: 5435: 5427: 5418: 5417: 5415: 5414: 5409: 5404: 5399: 5388: 5376: 5373: 5372: 5370: 5369: 5364: 5359: 5357:Sustainability 5354: 5349: 5348: 5347: 5337: 5332: 5327: 5322: 5317: 5312: 5307: 5302: 5297: 5292: 5287: 5282: 5277: 5272: 5266: 5264: 5258: 5257: 5255: 5254: 5252:Water scarcity 5249: 5244: 5239: 5234: 5229: 5224: 5219: 5214: 5209: 5204: 5199: 5194: 5189: 5187:Nitrogen cycle 5184: 5179: 5174: 5169: 5164: 5159: 5154: 5152:Forest dieback 5149: 5144: 5139: 5134: 5129: 5124: 5119: 5114: 5109: 5104: 5099: 5094: 5093: 5092: 5087: 5080:Climate change 5077: 5076: 5075: 5070: 5065: 5054: 5052: 5046: 5045: 5043: 5042: 5037: 5036: 5035: 5025: 5024: 5023: 5018: 5013: 5008: 4998: 4993: 4988: 4983: 4978: 4973: 4968: 4963: 4958: 4953: 4948: 4947: 4946: 4941: 4936: 4931: 4921: 4920: 4919: 4914: 4909: 4904: 4899: 4897:nanotechnology 4894: 4889: 4884: 4879: 4869: 4864: 4859: 4854: 4849: 4844: 4843: 4842: 4837: 4832: 4827: 4822: 4817: 4812: 4802: 4801: 4800: 4795: 4790: 4785: 4775: 4770: 4765: 4760: 4759: 4758: 4753: 4748: 4743: 4738: 4733: 4728: 4717: 4715: 4709: 4708: 4706: 4705: 4700: 4695: 4690: 4685: 4684: 4683: 4681:on marine life 4673: 4672: 4671: 4669:list of issues 4661: 4656: 4651: 4645: 4643: 4639: 4638: 4631: 4630: 4623: 4616: 4608: 4602: 4601: 4596: 4589: 4588:External links 4586: 4584: 4583: 4577: 4537: 4515: 4499:Cato Institute 4487:Hamowy, Ronald 4478: 4472: 4456: 4439: 4432: 4411: 4408: 4405: 4394: 4392: 4389: 4386: 4385: 4372: 4353:(2): 169–195. 4330: 4321: 4312: 4303: 4290: 4277: 4268: 4259: 4228: 4219: 4213:978-1559635035 4212: 4190: 4165: 4139: 4061: 4047: 4033: 4018: 4003: 3969: 3942:(4): 755–785. 3919: 3866: 3853: 3851:Vol. 84 No. 5. 3836: 3822: 3809: 3774: 3761: 3748: 3741: 3723: 3680: 3671: 3656: 3647: 3638: 3627:(4): 549–562. 3611: 3576: 3561: 3519: 3504: 3497: 3479: 3472: 3454: 3433:(2): 253–273. 3413: 3404: 3364: 3338: 3299: 3260: 3237: 3212: 3189: 3180: 3165: 3116: 3103:(2): 133–150. 3083: 3068: 3052: 3033: 3008: 2986: 2953: 2946: 2920: 2913: 2888: 2873: 2857: 2850: 2832: 2809: 2790: 2777: 2750: 2736: 2729: 2711: 2696: 2685:(6): 569–594. 2669: 2662: 2644: 2626: 2619: 2598: 2563: 2542:10.2307/796812 2516: 2469: 2442:(2): 487–509. 2419: 2407: 2377: 2365: 2332: 2298: 2288: 2287: 2285: 2282: 2280: 2279: 2273: 2268: 2262: 2253: 2247: 2238: 2232: 2226: 2219: 2217: 2214: 2148: 2145: 2109: 2106: 2100: 2097: 2088: 2085: 2076: 2073: 2063: 2060: 1989: 1988: 1983: 1977: 1974: 1907: 1906: 1900: 1893: 1887: 1881: 1875: 1868:Pigovian taxes 1865: 1850: 1847: 1846: 1845: 1842: 1833: 1830: 1828: 1825: 1793: 1790: 1765:vaccinations. 1757: 1740: 1733: 1726: 1719: 1697: 1694: 1668: 1661: 1654: 1633: 1626: 1619: 1612: 1588:steel industry 1570: 1569:External costs 1567: 1534: 1531: 1514: 1511: 1505: 1502: 1485: 1484: 1467: 1464: 1418: 1415: 1403: 1402: 1388: 1385:tipping points 1381:network effect 1373: 1354: 1341: 1324: 1321: 1312: 1311: 1300: 1297: 1294: 1287: 1281: 1266: 1253:who keeps the 1239: 1236: 1226: 1223: 1222: 1221: 1210: 1207:market failure 1198: 1192: 1182: 1181:, and patents. 1172: 1149: 1146: 1145: 1144: 1131:nuclear plants 1123: 1108: 1097: 1083: 1077: 1071: 1065: 1062:market failure 1044: 1025: 1022: 992:Barry Commoner 972: 969: 966: 965: 962: 959: 955: 954: 951: 948: 944: 943: 940: 937: 924: 921: 852: 849: 827: 824: 795: 792: 784:market failure 749:motor vehicles 722: 721: 719: 718: 711: 704: 696: 693: 692: 689: 688: 686:Rail subsidies 683: 681:Green politics 678: 676:Green New Deal 673: 668: 663: 658: 653: 651:Carbon leakage 647: 644: 643: 640: 639: 636: 635: 630: 625: 620: 615: 610: 605: 603:Feed-in tariff 600: 595: 590: 585: 579: 573: 570: 569: 566: 565: 562: 561: 559:Value of Earth 556: 551: 546: 545: 544: 539: 534: 529: 524: 519: 514: 509: 504: 499: 494: 489: 484: 479: 474: 469: 464: 459: 454: 449: 444: 434: 433: 432: 427: 422: 415:Sustainability 412: 407: 402: 397: 392: 387: 382: 377: 372: 371: 370: 365: 360: 355: 350: 345: 340: 335: 330: 325: 320: 310: 305: 300: 299: 298: 293: 288: 283: 278: 273: 268: 258: 253: 248: 243: 238: 233: 228: 223: 221:Eco-innovation 218: 213: 211:Eco-capitalism 208: 203: 198: 193: 188: 183: 177: 174: 173: 170: 169: 166: 165: 160: 155: 149: 147:Climate change 146: 145: 142: 141: 138: 137: 132: 127: 122: 117: 112: 107: 102: 100:Carbon finance 97: 92: 87: 81: 78: 77: 74: 73: 65: 64: 58: 57: 39:motor vehicles 26: 9: 6: 4: 3: 2: 9458: 9447: 9444: 9442: 9439: 9437: 9434: 9432: 9429: 9427: 9424: 9423: 9421: 9406: 9403: 9401: 9398: 9394: 9391: 9390: 9389: 9386: 9384: 9381: 9379: 9376: 9374: 9371: 9369: 9366: 9364: 9361: 9359: 9356: 9354: 9351: 9349: 9346: 9344: 9341: 9339: 9336: 9334: 9331: 9329: 9326: 9322: 9319: 9317: 9314: 9313: 9312: 9309: 9307: 9306:Computer rage 9304: 9303: 9301: 9297: 9289: 9286: 9284: 9281: 9279: 9278:United States 9276: 9275: 9274: 9271: 9269: 9266: 9264: 9261: 9259: 9256: 9254: 9253:Filter bubble 9251: 9247: 9246:United States 9244: 9242: 9239: 9238: 9237: 9234: 9232: 9229: 9225: 9222: 9221: 9220: 9217: 9216: 9214: 9212: 9207: 9203: 9197: 9194: 9192: 9189: 9187: 9184: 9182: 9181:Peer pressure 9179: 9177: 9174: 9172: 9169: 9165: 9162: 9160: 9157: 9156: 9155: 9152: 9150: 9147: 9145: 9142: 9140: 9137: 9135: 9132: 9131: 9129: 9127: 9122: 9118: 9112: 9109: 9105: 9102: 9100: 9097: 9096: 9095: 9092: 9090: 9087: 9085: 9082: 9080: 9077: 9075: 9072: 9070: 9067: 9065: 9062: 9060: 9057: 9053: 9050: 9048: 9045: 9043: 9040: 9038: 9035: 9034: 9033: 9030: 9028: 9027:Doomscrolling 9025: 9021: 9018: 9017: 9016: 9013: 9009: 9006: 9005: 9004: 9001: 8999: 8996: 8994: 8991: 8989: 8986: 8984: 8981: 8979: 8976: 8974: 8971: 8970: 8968: 8966: 8962: 8956: 8953: 8951: 8948: 8946: 8943: 8939: 8936: 8935: 8934: 8931: 8929: 8926: 8924: 8921: 8917: 8914: 8912: 8909: 8907: 8904: 8903: 8902: 8899: 8897: 8894: 8890: 8887: 8885: 8882: 8880: 8877: 8875: 8872: 8871: 8870: 8867: 8865: 8862: 8860: 8857: 8856: 8854: 8850: 8844: 8841: 8839: 8838:Media studies 8836: 8834: 8831: 8827: 8824: 8822: 8819: 8817: 8814: 8813: 8812: 8809: 8807: 8804: 8802: 8799: 8798: 8795: 8791: 8790:human factors 8787: 8780: 8775: 8773: 8768: 8766: 8761: 8760: 8757: 8746: 8743: 8741: 8738: 8736: 8733: 8731: 8728: 8726: 8723: 8721: 8718: 8715: 8707: 8704: 8701: 8697: 8694: 8692: 8689: 8687: 8684: 8683: 8679: 8677: 8673: 8667: 8666: 8662: 8660: 8657: 8655: 8652: 8650: 8647: 8645: 8642: 8640: 8637: 8635: 8632: 8630: 8627: 8625: 8622: 8620: 8617: 8615: 8612: 8610: 8607: 8605: 8602: 8600: 8597: 8595: 8592: 8590: 8587: 8585: 8582: 8580: 8577: 8575: 8572: 8570: 8567: 8565: 8562: 8560: 8557: 8555: 8552: 8550: 8547: 8545: 8542: 8540: 8537: 8535: 8532: 8530: 8527: 8525: 8522: 8520: 8517: 8515: 8512: 8510: 8507: 8505: 8502: 8500: 8497: 8495: 8492: 8490: 8487: 8485: 8482: 8480: 8477: 8475: 8472: 8470: 8467: 8465: 8462: 8460: 8457: 8455: 8452: 8450: 8447: 8445: 8442: 8440: 8437: 8435: 8432: 8430: 8427: 8425: 8422: 8420: 8417: 8415: 8412: 8410: 8407: 8405: 8402: 8400: 8397: 8395: 8392: 8390: 8387: 8385: 8382: 8380: 8377: 8375: 8372: 8370: 8367: 8365: 8362: 8360: 8357: 8355: 8352: 8350: 8347: 8345: 8342: 8340: 8337: 8335: 8332: 8330: 8329:de Mandeville 8327: 8326: 8324: 8320: 8315: 8309: 8306: 8304: 8301: 8299: 8296: 8294: 8291: 8289: 8286: 8284: 8281: 8277: 8274: 8273: 8272: 8271:New classical 8269: 8265: 8262: 8261: 8260: 8257: 8255: 8252: 8250: 8247: 8243: 8240: 8239: 8238: 8235: 8233: 8230: 8228: 8227:Malthusianism 8225: 8219: 8216: 8215: 8214: 8211: 8209: 8206: 8203: 8199: 8196: 8195: 8194: 8191: 8189: 8188:Institutional 8186: 8184: 8181: 8179: 8176: 8174: 8171: 8169: 8166: 8164: 8161: 8159: 8156: 8154: 8151: 8149: 8146: 8144: 8141: 8139: 8136: 8134: 8131: 8129: 8126: 8122: 8119: 8118: 8117: 8114: 8112: 8109: 8107: 8104: 8102: 8099: 8095: 8092: 8091: 8090: 8087: 8085: 8082: 8080: 8077: 8075: 8072: 8070: 8067: 8066: 8064: 8059: 8054: 8049: 8041: 8038: 8036: 8033: 8031: 8028: 8026: 8023: 8021: 8018: 8016: 8013: 8011: 8008: 8006: 8003: 8001: 7998: 7996: 7992: 7991:Public choice 7989: 7987: 7984: 7982: 7979: 7977: 7974: 7972: 7969: 7967: 7966:Participation 7964: 7962: 7959: 7957: 7954: 7952: 7949: 7947: 7944: 7942: 7939: 7937: 7934: 7932: 7929: 7927: 7926:Institutional 7924: 7922: 7919: 7917: 7914: 7912: 7909: 7907: 7904: 7902: 7899: 7897: 7894: 7892: 7889: 7887: 7884: 7882: 7879: 7877: 7876:Expeditionary 7874: 7872: 7869: 7867: 7866:Environmental 7864: 7862: 7859: 7857: 7854: 7852: 7849: 7847: 7844: 7842: 7839: 7837: 7834: 7832: 7829: 7827: 7824: 7822: 7819: 7817: 7814: 7812: 7809: 7808: 7804: 7802: 7798: 7792: 7789: 7787: 7784: 7780: 7777: 7776: 7775: 7772: 7771: 7769: 7767: 7763: 7757: 7754: 7752: 7749: 7745: 7742: 7741: 7740: 7737: 7735: 7732: 7730: 7727: 7725: 7722: 7718: 7715: 7713: 7710: 7708: 7705: 7703: 7700: 7698: 7695: 7694: 7693: 7690: 7689: 7687: 7685: 7681: 7677: 7670: 7665: 7663: 7658: 7656: 7651: 7650: 7647: 7635: 7627: 7625: 7620: 7615: 7614: 7611: 7605: 7602: 7600: 7597: 7593: 7590: 7589: 7588: 7585: 7584: 7582: 7578: 7572: 7569: 7567: 7564: 7562: 7559: 7557: 7554: 7552: 7549: 7547: 7544: 7542: 7539: 7537: 7534: 7532: 7531:Institutional 7529: 7527: 7524: 7522: 7519: 7517: 7514: 7512: 7509: 7507: 7504: 7502: 7499: 7497: 7494: 7492: 7489: 7487: 7484: 7482: 7479: 7477: 7476:Computational 7474: 7472: 7469: 7467: 7464: 7463: 7461: 7457: 7451: 7448: 7444: 7441: 7439: 7436: 7435: 7434: 7431: 7429: 7426: 7422: 7421:Law of supply 7418: 7415: 7413: 7412:Law of demand 7409: 7406: 7405: 7404: 7401: 7399: 7398:Social choice 7396: 7394: 7391: 7389: 7386: 7384: 7383:Excess supply 7380: 7377: 7375: 7372: 7370: 7369:Risk aversion 7367: 7365: 7362: 7360: 7357: 7355: 7352: 7350: 7347: 7345: 7342: 7340: 7337: 7333: 7330: 7328: 7324: 7321: 7319: 7316: 7314: 7311: 7309: 7306: 7304: 7303:Price ceiling 7301: 7299: 7296: 7295: 7294: 7291: 7289: 7286: 7284: 7281: 7277: 7274: 7272: 7269: 7267: 7264: 7260: 7259:Complementary 7257: 7255: 7252: 7251: 7250: 7247: 7245: 7242: 7238: 7235: 7233: 7230: 7229: 7228: 7225: 7224: 7223: 7220: 7218: 7215: 7213: 7210: 7208: 7205: 7203: 7200: 7198: 7195: 7193: 7190: 7188: 7185: 7181: 7178: 7176: 7173: 7172: 7171: 7168: 7166: 7163: 7161: 7158: 7156: 7153: 7149: 7146: 7145: 7144: 7141: 7137: 7134: 7132: 7129: 7127: 7124: 7122: 7119: 7118: 7117: 7114: 7112: 7109: 7107: 7104: 7102: 7099: 7097: 7094: 7092: 7089: 7085: 7082: 7080: 7077: 7075: 7072: 7068: 7065: 7064: 7063: 7060: 7058: 7055: 7053: 7050: 7049: 7048: 7045: 7043: 7042:non-convexity 7039: 7036: 7034: 7031: 7029: 7026: 7024: 7021: 7020: 7018: 7014: 7010: 7003: 6998: 6996: 6991: 6989: 6984: 6983: 6980: 6968: 6965: 6963: 6960: 6958: 6955: 6953: 6950: 6948: 6945: 6943: 6940: 6938: 6935: 6933: 6930: 6928: 6925: 6923: 6922:Nuclear power 6920: 6918: 6915: 6913: 6910: 6908: 6907:Humber Bridge 6905: 6903: 6900: 6898: 6895: 6893: 6890: 6888: 6885: 6883: 6880: 6878: 6875: 6873: 6870: 6868: 6865: 6863: 6860: 6858: 6855: 6854: 6852: 6848: 6842: 6839: 6837: 6836:Public policy 6834: 6832: 6829: 6827: 6824: 6822: 6819: 6817: 6814: 6812: 6809: 6808: 6806: 6800: 6794: 6791: 6789: 6786: 6784: 6781: 6779: 6776: 6774: 6771: 6769: 6766: 6764: 6761: 6759: 6756: 6754: 6751: 6749: 6746: 6744: 6741: 6739: 6736: 6734: 6731: 6729: 6726: 6724: 6721: 6719: 6716: 6714: 6711: 6709: 6706: 6704: 6701: 6699: 6696: 6694: 6691: 6689: 6686: 6684: 6681: 6679: 6676: 6674: 6671: 6669: 6666: 6664: 6661: 6659: 6656: 6655: 6653: 6645: 6639: 6636: 6634: 6631: 6629: 6626: 6624: 6621: 6619: 6616: 6614: 6611: 6609: 6608:Public sector 6606: 6604: 6601: 6599: 6596: 6594: 6591: 6589: 6586: 6584: 6581: 6579: 6576: 6574: 6571: 6569: 6566: 6564: 6561: 6559: 6556: 6554: 6551: 6549: 6546: 6544: 6541: 6539: 6536: 6534: 6531: 6529: 6526: 6524: 6521: 6519: 6518:Appropriation 6516: 6515: 6513: 6509: 6503: 6500: 6498: 6495: 6493: 6490: 6488: 6485: 6483: 6480: 6478: 6477:State schools 6475: 6473: 6470: 6468: 6465: 6463: 6460: 6458: 6455: 6453: 6450: 6448: 6445: 6443: 6442:Public spaces 6440: 6438: 6435: 6433: 6430: 6428: 6425: 6423: 6420: 6418: 6415: 6413: 6410: 6408: 6405: 6403: 6400: 6398: 6395: 6393: 6390: 6388: 6385: 6383: 6380: 6378: 6375: 6373: 6370: 6368: 6365: 6363: 6360: 6359: 6357: 6351: 6347: 6343: 6336: 6331: 6329: 6324: 6322: 6317: 6316: 6313: 6301: 6298: 6296: 6293: 6291: 6288: 6286: 6283: 6281: 6278: 6276: 6273: 6271: 6268: 6266: 6263: 6261: 6258: 6256: 6253: 6251: 6248: 6246: 6243: 6241: 6238: 6236: 6233: 6231: 6228: 6226: 6223: 6221: 6218: 6216: 6213: 6211: 6208: 6206: 6203: 6201: 6198: 6196: 6193: 6191: 6188: 6186: 6183: 6181: 6178: 6176: 6173: 6171: 6168: 6166: 6163: 6161: 6158: 6156: 6153: 6151: 6148: 6146: 6143: 6142: 6139: 6135: 6128: 6123: 6121: 6116: 6114: 6109: 6108: 6105: 6093: 6092:Organizations 6090: 6088: 6087: 6078: 6076: 6068: 6066: 6062: 6058: 6057: 6054: 6048: 6045: 6042: 6038: 6035: 6033: 6030: 6028: 6025: 6023: 6020: 6018: 6015: 6013: 6010: 6008: 6005: 6003: 6000: 5998: 5995: 5993: 5990: 5988: 5985: 5983: 5980: 5978: 5975: 5973: 5970: 5968: 5965: 5963: 5960: 5958: 5955: 5953: 5952:Disinvestment 5950: 5948: 5945: 5943: 5940: 5938: 5935: 5933: 5930: 5928: 5925: 5923: 5920: 5919: 5917: 5913: 5907: 5904: 5901: 5900:certification 5897: 5894: 5891: 5890:certification 5887: 5886:Environmental 5884: 5882: 5879: 5878: 5876: 5874: 5870: 5864: 5861: 5859: 5856: 5854: 5851: 5850: 5848: 5844: 5838: 5835: 5833: 5830: 5828: 5824: 5820: 5816: 5812: 5809: 5807: 5804: 5802: 5799: 5797: 5794: 5792: 5789: 5787: 5783: 5779: 5775: 5771: 5768: 5766: 5763: 5761: 5758: 5756: 5753: 5752: 5750: 5748: 5745:Environmental 5742: 5736: 5733: 5731: 5728: 5726: 5723: 5721: 5718: 5716: 5713: 5711: 5708: 5706: 5703: 5700: 5697: 5695: 5692: 5690: 5689:environmental 5686: 5683: 5681: 5678: 5676: 5673: 5671: 5668: 5666: 5663: 5662: 5660: 5658: 5652: 5647: 5637: 5634: 5632: 5629: 5627: 5624: 5622: 5619: 5617: 5614: 5612: 5609: 5607: 5604: 5602: 5599: 5597: 5594: 5592: 5589: 5587: 5584: 5582: 5579: 5577: 5574: 5572: 5569: 5567: 5564: 5562: 5559: 5557: 5554: 5552: 5549: 5547: 5544: 5542: 5539: 5537: 5533: 5529: 5525: 5521: 5517: 5514: 5512: 5509: 5507: 5503: 5499: 5495: 5491: 5488: 5486: 5483: 5481: 5478: 5477: 5475: 5470: 5466: 5462: 5459: 5458:environmental 5455: 5448: 5443: 5441: 5436: 5434: 5429: 5428: 5425: 5413: 5410: 5408: 5405: 5403: 5400: 5398: 5389: 5387: 5378: 5377: 5374: 5368: 5365: 5363: 5360: 5358: 5355: 5353: 5350: 5346: 5343: 5342: 5341: 5340:Reforestation 5338: 5336: 5333: 5331: 5328: 5326: 5323: 5321: 5318: 5316: 5313: 5311: 5308: 5306: 5303: 5301: 5298: 5296: 5295:Cultured meat 5293: 5291: 5288: 5286: 5283: 5281: 5278: 5276: 5275:Birth control 5273: 5271: 5268: 5267: 5265: 5263: 5259: 5253: 5250: 5248: 5245: 5243: 5240: 5238: 5235: 5233: 5230: 5228: 5225: 5223: 5220: 5218: 5215: 5213: 5210: 5208: 5205: 5203: 5200: 5198: 5195: 5193: 5190: 5188: 5185: 5183: 5180: 5178: 5175: 5173: 5170: 5168: 5165: 5163: 5160: 5158: 5155: 5153: 5150: 5148: 5145: 5143: 5140: 5138: 5135: 5133: 5130: 5128: 5125: 5123: 5120: 5118: 5115: 5113: 5110: 5108: 5105: 5103: 5100: 5098: 5097:Deforestation 5095: 5091: 5088: 5086: 5083: 5082: 5081: 5078: 5074: 5071: 5069: 5066: 5064: 5061: 5060: 5059: 5056: 5055: 5053: 5051: 5047: 5041: 5038: 5034: 5031: 5030: 5029: 5026: 5022: 5019: 5017: 5014: 5012: 5009: 5007: 5004: 5003: 5002: 4999: 4997: 4994: 4992: 4989: 4987: 4984: 4982: 4979: 4977: 4974: 4972: 4969: 4967: 4964: 4962: 4959: 4957: 4954: 4952: 4949: 4945: 4942: 4940: 4937: 4935: 4932: 4930: 4927: 4926: 4925: 4922: 4918: 4915: 4913: 4910: 4908: 4905: 4903: 4900: 4898: 4895: 4893: 4890: 4888: 4885: 4883: 4880: 4878: 4875: 4874: 4873: 4872:Manufacturing 4870: 4868: 4865: 4863: 4860: 4858: 4855: 4853: 4850: 4848: 4845: 4841: 4838: 4836: 4833: 4831: 4828: 4826: 4823: 4821: 4820:nuclear power 4818: 4816: 4815:fracking (US) 4813: 4811: 4808: 4807: 4806: 4803: 4799: 4796: 4794: 4791: 4789: 4786: 4784: 4781: 4780: 4779: 4776: 4774: 4771: 4769: 4766: 4764: 4761: 4757: 4754: 4752: 4749: 4747: 4744: 4742: 4739: 4737: 4734: 4732: 4729: 4727: 4724: 4723: 4722: 4719: 4718: 4716: 4714: 4710: 4704: 4701: 4699: 4696: 4694: 4691: 4689: 4686: 4682: 4679: 4678: 4677: 4674: 4670: 4667: 4666: 4665: 4662: 4660: 4657: 4655: 4652: 4650: 4647: 4646: 4644: 4640: 4636: 4629: 4624: 4622: 4617: 4615: 4610: 4609: 4606: 4600: 4597: 4595: 4592: 4591: 4581: 4578: 4574: 4570: 4566: 4562: 4558: 4554: 4551:(4): 477–91. 4550: 4546: 4542: 4538: 4534: 4530: 4526: 4522: 4518: 4512: 4508: 4504: 4500: 4496: 4492: 4488: 4484: 4479: 4475: 4469: 4465: 4461: 4457: 4454: 4450: 4449: 4444: 4440: 4437: 4433: 4429: 4425: 4422:(3): 307–22. 4421: 4417: 4412: 4409: 4406: 4403: 4400: 4396: 4395: 4382: 4376: 4368: 4364: 4360: 4356: 4352: 4348: 4341: 4334: 4325: 4316: 4307: 4300: 4294: 4287: 4281: 4272: 4263: 4249:on 2014-02-02 4245: 4238: 4232: 4223: 4215: 4209: 4204: 4203: 4194: 4179: 4175: 4169: 4154: 4150: 4143: 4136: 4131: 4125: 4121: 4116: 4111: 4107: 4103: 4099: 4095: 4091: 4087: 4083: 4079: 4075: 4068: 4066: 4057: 4051: 4043: 4037: 4029: 4022: 4014: 4007: 3999: 3995: 3991: 3987: 3980: 3973: 3965: 3961: 3957: 3953: 3949: 3945: 3941: 3937: 3930: 3923: 3915: 3911: 3907: 3903: 3898: 3893: 3889: 3885: 3881: 3877: 3870: 3863: 3857: 3850: 3848: 3840: 3832: 3826: 3819: 3813: 3805: 3801: 3797: 3793: 3790:(2): 130–50. 3789: 3785: 3778: 3771: 3765: 3758: 3752: 3744: 3738: 3734: 3727: 3718: 3713: 3708: 3703: 3699: 3695: 3691: 3684: 3675: 3667: 3660: 3651: 3642: 3634: 3630: 3626: 3622: 3615: 3607: 3603: 3599: 3595: 3591: 3587: 3580: 3572: 3565: 3558: 3554: 3550: 3546: 3542: 3539: 3535: 3530: 3528: 3526: 3524: 3515: 3508: 3500: 3494: 3490: 3483: 3475: 3469: 3465: 3458: 3449: 3444: 3440: 3436: 3432: 3428: 3424: 3417: 3408: 3400: 3396: 3392: 3388: 3385:(99): 25–56. 3384: 3383: 3375: 3368: 3353: 3349: 3342: 3334: 3330: 3326: 3322: 3318: 3314: 3310: 3303: 3295: 3291: 3287: 3283: 3279: 3275: 3271: 3264: 3256: 3252: 3248: 3241: 3226: 3222: 3216: 3209: 3208:0-674-01292-5 3205: 3201: 3198: 3193: 3184: 3176: 3169: 3161: 3157: 3153: 3149: 3144: 3139: 3135: 3131: 3127: 3120: 3111: 3106: 3102: 3098: 3094: 3087: 3079: 3072: 3063: 3056: 3048: 3044: 3037: 3026: 3019: 3012: 3005: 3001: 2997: 2990: 2981: 2976: 2973:(3): 87–110. 2972: 2968: 2964: 2957: 2949: 2943: 2936: 2935: 2930: 2924: 2916: 2910: 2906: 2899: 2892: 2884: 2877: 2871: 2867: 2861: 2853: 2851:9781118539729 2847: 2843: 2836: 2822: 2816: 2814: 2805: 2801: 2794: 2787: 2781: 2765: 2761: 2754: 2745: 2743: 2741: 2732: 2726: 2722: 2715: 2708: 2707: 2700: 2692: 2688: 2684: 2680: 2673: 2665: 2659: 2655: 2648: 2640: 2636: 2630: 2622: 2616: 2612: 2605: 2603: 2594: 2590: 2586: 2582: 2578: 2574: 2567: 2559: 2555: 2551: 2547: 2543: 2539: 2535: 2531: 2527: 2520: 2512: 2508: 2504: 2500: 2496: 2492: 2488: 2484: 2480: 2473: 2465: 2461: 2457: 2453: 2449: 2445: 2441: 2437: 2430: 2423: 2410: 2404: 2400: 2396: 2392: 2388: 2381: 2368: 2362: 2358: 2354: 2350: 2346: 2339: 2337: 2328: 2324: 2320: 2316: 2312: 2305: 2303: 2293: 2289: 2277: 2274: 2272: 2269: 2266: 2263: 2257: 2254: 2251: 2248: 2242: 2239: 2236: 2235:Coase theorem 2233: 2230: 2227: 2224: 2221: 2220: 2213: 2210: 2206: 2200: 2198: 2197: 2192: 2191:Hunter Lovins 2188: 2184: 2179: 2177: 2173: 2169: 2165: 2161: 2157: 2153: 2144: 2142: 2138: 2134: 2131: 2127: 2123: 2114: 2105: 2096: 2093: 2084: 2082: 2075:Emissions fee 2072: 2069: 2059: 2055: 2051: 2049: 2043: 2041: 2037: 2033: 2029: 2023: 2021: 2017: 2013: 2008: 2006: 2000: 1998: 1994: 1993:Coase theorem 1987: 1984: 1981: 1978: 1975: 1972: 1971: 1970: 1968: 1967:Coase theorem 1963: 1960: 1955: 1951: 1947: 1945: 1941: 1937: 1933: 1927: 1923: 1919: 1916: 1915:distortionary 1912: 1904: 1901: 1898: 1894: 1891: 1888: 1885: 1882: 1879: 1876: 1873: 1869: 1866: 1863: 1859: 1856: 1855: 1854: 1843: 1840: 1836: 1835: 1824: 1820: 1818: 1813: 1809: 1805: 1803: 1802:herd immunity 1799: 1789: 1787: 1786:public health 1783: 1779: 1775: 1771: 1766: 1764: 1760: 1753: 1752: 1747: 1743: 1737:and quantity 1736: 1729: 1723:and quantity 1722: 1714: 1712: 1702: 1693: 1691: 1687: 1682: 1677: 1675: 1671: 1664: 1657: 1650: 1649: 1644: 1640: 1636: 1630:and quantity 1629: 1622: 1616:and quantity 1615: 1607: 1605: 1601: 1597: 1596:air pollution 1593: 1592:laissez-faire 1589: 1581: 1575: 1566: 1562: 1560: 1556: 1552: 1548: 1544: 1540: 1530: 1526: 1524: 1523:free software 1520: 1513:Technological 1510: 1504:Inframarginal 1501: 1497: 1495: 1491: 1481: 1480: 1479: 1477: 1472: 1463: 1460: 1456: 1452: 1450: 1446: 1441: 1439: 1435: 1430: 1428: 1424: 1414: 1412: 1408: 1400: 1396: 1393: 1389: 1386: 1382: 1378: 1374: 1371: 1367: 1363: 1359: 1355: 1352: 1351: 1350:herd immunity 1346: 1342: 1338: 1337:market values 1334: 1333: 1332: 1330: 1316: 1309: 1304: 1301: 1298: 1295: 1292: 1288: 1285: 1282: 1279: 1275: 1271: 1270:free software 1267: 1264: 1260: 1256: 1252: 1248: 1247: 1246: 1245: 1235: 1231: 1219: 1215: 1211: 1208: 1204: 1199: 1196: 1193: 1190: 1189:moral hazards 1186: 1183: 1180: 1176: 1173: 1170: 1167: 1166: 1161: 1157: 1155: 1141: 1137: 1132: 1128: 1127:nuclear waste 1124: 1121: 1117: 1113: 1109: 1106: 1102: 1098: 1095: 1091: 1087: 1086:Systemic risk 1084: 1081: 1078: 1075: 1072: 1069: 1066: 1063: 1059: 1057: 1052: 1048: 1045: 1042: 1039:from burning 1038: 1037:Air pollution 1035: 1034: 1033: 1031: 1028:Examples for 1020: 1018: 1014: 1008: 1006: 1000: 995: 993: 989: 981: 977: 963: 960: 957: 956: 952: 949: 946: 945: 941: 938: 936: 935: 929: 920: 918: 914: 910: 906: 905:Laissez-faire 902: 899: 898: 888: 884: 880: 878: 874: 870: 866: 862: 858: 857:air pollution 848: 844: 840: 836: 833: 832:indirect cost 823: 819: 817: 813: 808: 803: 801: 791: 787: 785: 781: 777: 772: 770: 769:Pigouvian tax 766: 762: 757: 754: 750: 746: 745:Air pollution 741: 740:indirect cost 737: 736:external cost 733: 729: 717: 712: 710: 705: 703: 698: 697: 695: 694: 687: 684: 682: 679: 677: 674: 672: 669: 667: 664: 662: 659: 657: 654: 652: 649: 648: 642: 641: 634: 631: 629: 626: 624: 621: 619: 616: 614: 611: 609: 606: 604: 601: 599: 596: 594: 591: 589: 586: 583: 580: 578: 575: 574: 568: 567: 560: 557: 555: 552: 550: 547: 543: 540: 538: 535: 533: 530: 528: 527:refurbishment 525: 523: 520: 518: 515: 513: 510: 508: 505: 503: 500: 498: 495: 493: 490: 488: 485: 483: 480: 478: 475: 473: 470: 468: 465: 463: 460: 458: 455: 453: 450: 448: 445: 443: 440: 439: 438: 435: 431: 428: 426: 423: 421: 418: 417: 416: 413: 411: 408: 406: 403: 401: 398: 396: 393: 391: 388: 386: 383: 381: 378: 376: 373: 369: 366: 364: 361: 359: 356: 354: 351: 349: 346: 344: 341: 339: 336: 334: 331: 329: 326: 324: 321: 319: 316: 315: 314: 311: 309: 306: 304: 301: 297: 294: 292: 291:impact design 289: 287: 284: 282: 279: 277: 274: 272: 269: 267: 264: 263: 262: 261:Environmental 259: 257: 254: 252: 249: 247: 246:Ecotechnology 244: 242: 239: 237: 234: 232: 229: 227: 226:Eco-investing 224: 222: 219: 217: 214: 212: 209: 207: 206:Disinvestment 204: 202: 199: 197: 194: 192: 189: 187: 184: 182: 179: 178: 172: 171: 164: 161: 159: 156: 154: 151: 150: 144: 143: 136: 133: 131: 128: 126: 123: 121: 118: 116: 113: 111: 108: 106: 105:Carbon offset 103: 101: 98: 96: 93: 91: 88: 86: 85:Carbon credit 83: 82: 76: 75: 71: 67: 66: 63: 60: 59: 55: 51: 50: 44: 40: 36: 35:Air pollution 32: 19: 9400:Technophobia 9388:Technophilia 9231:Echo chamber 9089:Rage farming 8869:Infotainment 8805: 8740:Publications 8696:Publications 8663: 8259:Neoclassical 8249:Mercantilism 8158:Evolutionary 8020:Sociological 7993: / 7891:Geographical 7871:Evolutionary 7846:Digitization 7811:Agricultural 7774:Econometrics 7702:Price theory 7566:Optimization 7551:Mathematical 7511:Experimental 7506:Evolutionary 7491:Econometrics 7349:Public goods 7323:Price system 7318:Price signal 7232:Monopolistic 7159: 7101:Distribution 7016:Major topics 6932:Panama Canal 6811:Architecture 6778:Urban sprawl 6753:Smart growth 6688:Ethanol fuel 6628:Supply chain 6588:Property tax 6547: 6533:Design–build 6457:Public works 6225:Murphy's law 6210:Hydra effect 6205:Hutber's law 6179: 6170:Cobra effect 6084: 5957:Eco-labeling 5932:Child labour 5827:supply chain 5825: / 5821: / 5817: / 5813: / 5784: / 5780: / 5776: / 5772: / 5555: 5546:Ethical code 5534: / 5530: / 5526: / 5522: / 5518: / 5504: / 5500: / 5496: / 5492: / 5146: 5033:urban sprawl 5028:Urbanization 4976:Particulates 4961:Overdrafting 4676:Human impact 4649:Anthropocene 4548: 4544: 4490: 4463: 4447: 4419: 4415: 4398: 4380: 4375: 4350: 4346: 4333: 4324: 4315: 4306: 4298: 4293: 4280: 4271: 4262: 4251:. Retrieved 4244:the original 4231: 4222: 4201: 4193: 4181:. Retrieved 4177: 4168: 4156:. Retrieved 4153:The Guardian 4152: 4142: 4081: 4077: 4050: 4036: 4027: 4021: 4012: 4006: 3989: 3985: 3972: 3956:1721.1/63746 3939: 3936:Econometrica 3935: 3922: 3879: 3875: 3869: 3861: 3856: 3844: 3839: 3830: 3825: 3817: 3812: 3787: 3783: 3777: 3769: 3764: 3756: 3751: 3732: 3726: 3717:10419/257149 3697: 3693: 3683: 3674: 3665: 3659: 3650: 3641: 3624: 3620: 3614: 3589: 3585: 3579: 3570: 3564: 3548: 3513: 3507: 3488: 3482: 3463: 3457: 3430: 3426: 3416: 3407: 3380: 3367: 3355:. Retrieved 3351: 3341: 3319:(2): 71–78. 3316: 3312: 3302: 3277: 3273: 3263: 3254: 3250: 3240: 3228:. Retrieved 3225:Conceptually 3224: 3215: 3200:Steven Weber 3196: 3192: 3183: 3174: 3168: 3133: 3129: 3119: 3100: 3096: 3086: 3077: 3071: 3055: 3046: 3036: 3025:the original 3011: 2995: 2989: 2970: 2966: 2956: 2933: 2923: 2904: 2891: 2882: 2876: 2869: 2865: 2860: 2841: 2835: 2824:. Retrieved 2804:Investopedia 2803: 2793: 2780: 2768:. Retrieved 2763: 2753: 2720: 2714: 2704: 2699: 2682: 2678: 2672: 2653: 2647: 2639:investopedia 2638: 2629: 2610: 2576: 2572: 2566: 2533: 2529: 2519: 2486: 2482: 2472: 2439: 2435: 2422: 2412:, retrieved 2390: 2380: 2370:, retrieved 2348: 2318: 2314: 2292: 2201: 2194: 2180: 2172:Stern Report 2150: 2119: 2102: 2094: 2090: 2078: 2071:externality 2065: 2056: 2052: 2044: 2024: 2009: 2001: 1990: 1964: 1959:Ronald Coase 1956: 1952: 1948: 1928: 1924: 1920: 1911:Pigovian tax 1908: 1862:partnerships 1858:Corporations 1852: 1821: 1814: 1810: 1806: 1795: 1770:public goods 1767: 1762: 1755: 1749: 1738: 1731: 1724: 1717: 1715: 1710: 1707: 1685: 1680: 1678: 1673: 1666: 1659: 1652: 1646: 1638: 1631: 1624: 1617: 1610: 1608: 1603: 1585: 1563: 1550: 1547:private cost 1546: 1536: 1527: 1516: 1507: 1498: 1486: 1469: 1461: 1457: 1453: 1442: 1431: 1420: 1404: 1362:productivity 1348: 1328: 1327:Examples of 1326: 1278:Steven Weber 1243: 1242:Examples of 1241: 1232: 1228: 1153: 1152:Examples of 1151: 1090:moral hazard 1056:Stern Review 1054: 1041:fossil fuels 1029: 1027: 1013:Robert Monks 1010: 1002: 997: 987: 985: 939:Consumption 926: 903: 896: 895: 893: 881: 854: 851:Implications 845: 841: 837: 829: 820: 812:Ronald Coase 807:Frank Knight 804: 797: 788: 773: 765:Arthur Pigou 758: 735: 731: 725: 623:Net metering 497:food systems 425:organization 216:Eco commerce 130:Pigovian tax 79:Carbon price 9164:Moral panic 9094:Screen time 8928:News values 8864:Gatekeeping 8806:Externality 8534:von Neumann 8303:Supply-side 8288:Physiocracy 8232:Marginalism 7921:Information 7861:Engineering 7841:Development 7836:Demographic 7707:Game theory 7684:Theoretical 7516:Game theory 7481:Development 7428:Uncertainty 7308:Price floor 7288:Preferences 7227:Competition 7197:Information 7160:Externality 7143:Equilibrium 7084:Transaction 7062:Opportunity 7023:Aggregation 6952:Solar power 6728:Pork barrel 6703:Groundwater 6603:Public good 6573:Lindahl tax 6548:Externality 6487:Town square 6417:Lighthouses 6285:Social trap 6280:Serendipity 6180:Externality 6037:Stakeholder 5815:measurement 5556:Externality 5511:Dirty hands 5147:Externality 5142:Coral reefs 5102:Defaunation 4971:Overgrazing 4944:overfishing 4924:Marine life 4798:electricity 4721:Agriculture 4460:Tullock, G. 4443:Pigou, A.C. 4084:(1): 6117. 3897:10419/22952 3448:10419/87844 2536:(7): 1879. 2489:: 275–332. 2321:(1): 1–34. 2183:Paul Hawken 2176:Clive Spash 2170:and by the 2168:Fred Pearce 1780:or promote 1751:inefficient 1690:green taxes 1648:inefficient 1643:free market 1555:social cost 1445:Duesenberry 1274:Jean Tirole 1263:pollination 1112:overfishing 1074:Spam emails 942:Production 897:internalize 826:Definitions 776:equilibrium 732:externality 522:procurement 477:development 462:consumption 447:agriculture 442:advertising 437:Sustainable 328:development 9420:Categories 9378:Social bot 9368:Sealioning 9126:Conformity 8911:Propaganda 8896:Media bias 8889:Soft media 8691:Economists 8564:Schumacher 8469:Schumpeter 8439:von Wieser 8359:von Thünen 8319:Economists 8218:Circuitism 8183:Humanistic 8178:Historical 8153:Ecological 8143:Democratic 8116:Chartalism 8106:Behavioral 8069:Mainstream 8030:Statistics 8025:Solidarity 7946:Managerial 7911:Humanistic 7906:Historical 7851:Ecological 7816:Behavioral 7546:Managerial 7466:Behavioral 7339:Production 7276:Oligopsony 7116:Elasticity 7028:Budget set 6947:Suez Canal 6902:Hoover Dam 6758:Stormwater 6748:Smart grid 6618:Renovation 6553:Fixed cost 6502:Wind power 6355:facilities 6175:CSI effect 6041:engagement 5896:Fair trade 5747:accounting 5680:Higg Index 5657:accounting 5473:principles 5412:mitigation 5407:assessment 5402:by country 5300:Decoupling 5262:Mitigation 4991:Reservoirs 4912:pesticides 4857:Explosives 4835:reservoirs 4736:irrigation 4525:2008009151 4436:Definition 4253:2012-12-23 4183:16 January 4158:16 January 3399:Q111367750 3357:8 November 3136:: 107335. 2826:2014-11-23 2770:28 January 2414:2020-11-03 2372:2020-11-03 2284:References 2223:CC–PP game 2081:carbon tax 1878:Regulation 1774:merit good 1686:collective 1417:Positional 1377:smartphone 1364:, a lower 1356:Increased 1345:infections 1291:job safety 1257:for their 512:management 507:livelihood 502:industries 452:capitalism 420:accounting 318:accounting 276:enterprise 266:accounting 163:Food miles 110:Carbon tax 9064:Infodemic 8998:Clickbait 8965:Attention 8821:Cognition 8609:Greenspan 8574:Samuelson 8554:Galbraith 8524:Tinbergen 8464:von Mises 8459:Heckscher 8419:Edgeworth 8298:Stockholm 8293:Socialist 8193:Keynesian 8173:Happiness 8133:Classical 8094:Mutualism 8089:Anarchist 8074:Heterodox 7971:Personnel 7931:Knowledge 7896:Happiness 7886:Financial 7856:Education 7831:Democracy 7766:Empirical 7676:Economics 7587:Economics 7459:Subfields 7354:Rationing 7271:Oligopoly 7266:Monopsony 7254:Bilateral 7187:Household 7038:Convexity 6733:Recycling 6623:Spillover 6407:Hospitals 6372:Broadband 5982:Euthenics 5947:Disasters 5906:ISO 19011 5846:Reporting 5796:ISO 14031 5791:ISO 14000 5710:ISO 45001 5705:ISO 26000 5586:Pollution 5520:in Russia 5494:behaviour 5335:Recycling 5001:Transport 4986:Quarrying 4981:Pollution 4840:transport 4830:petroleum 4825:oil shale 4788:biodiesel 4573:153209646 4533:750831024 4135:CC BY 4.0 4106:2041-1723 3914:154310004 3906:0013-0427 3876:Economica 3804:154357550 3694:Economies 3606:110866624 3592:: 26–38. 3391:1755-9472 3346:Samwick. 3333:0733-9488 3294:153632547 3160:246059536 3152:0921-8009 2573:Economica 2550:0044-0094 2503:1556-5068 2456:0020-6598 2327:0028-0739 2229:Club good 2147:Criticism 2126:ecosystem 1938:(such as 1903:Mediation 1872:subsidies 1681:more than 1466:Pecuniary 1358:education 1331:include: 1251:beekeeper 1156:include: 1032:include: 958:Positive 947:Negative 873:political 728:economics 554:Used good 542:transport 430:reporting 348:marketing 9393:Neophile 9020:Phubbing 8938:Hot take 8826:Mismatch 8720:Category 8700:journals 8686:Glossary 8639:Stiglitz 8604:Rothbard 8584:Buchanan 8569:Friedman 8559:Koopmans 8549:Leontief 8529:Robinson 8414:Marshall 8264:Lausanne 8168:Georgism 8163:Feminist 8111:Buddhist 8101:Austrian 8000:Regional 7976:Planning 7951:Monetary 7881:Feminist 7826:Cultural 7821:Business 7634:Category 7580:See also 7471:Business 7443:Marginal 7438:Expected 7379:Shortage 7374:Scarcity 7249:Monopoly 7155:Exchange 7067:Implicit 7057:Marginal 6862:Autobahn 6850:Examples 6804:of study 6793:Wireless 6698:Fuel tax 6633:Taxation 6511:Concepts 6362:Airports 6075:Category 5873:Auditing 5694:equality 5397:Category 5021:shipping 5006:aviation 4892:plastics 4882:concrete 4867:Land use 4783:biofuels 4751:palm oil 4462:(2005). 4445:(1920). 4367:44071002 4178:phys.org 4124:33323933 3700:(4): 7. 3541:Archived 3395:Wikidata 3280:: 1–15. 2511:44186028 2464:33103243 2216:See also 1962:result. 1940:ecotaxes 1890:Lawsuits 1674:too much 1411:regulate 1225:Positive 971:Negative 923:Examples 865:trespass 645:Policies 532:sourcing 358:recovery 323:building 296:planning 201:Degrowth 175:Concepts 54:a 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