Linked from

The 51 pages that link to Externality, each with the reason it gives.

• Cost–benefit analysisRelated: Unpriced effects on third parties can be missed in project accounts.

• Information asymmetryCompared with: Externalities arise from spillovers, not necessarily unequal knowledge between parties.

• Market failureRelated: Unpriced spillover costs or benefits make private decisions diverge from social costs or benefits.

• Welfare economicsBroader topic: Unpriced effects make private choices diverge from socially efficient ones.

• Laissez-faireBroader topic: Unpriced external costs, such as pollution, can make private market choices impose wider harms.

• Moral hazardRelated: Moral hazard can impose external costs when risk-takers do not bear the full consequences.

• SubsidiarityRelated: Cross-border effects can make local decisions inadequate and justify action at a wider level.

• Market economyRelated: It illustrates how market prices can omit effects on third parties.

• General equilibrium theoryCompared with: Unpriced effects can prevent competitive equilibrium from being Pareto efficient.

• Sustainable agricultureNarrower topic: Unpriced pollution and ecosystem services complicate comparisons of farm profitability.

• Tragedy of the commonsRelated: Users can impose depletion costs on others without bearing the full consequences of their choices.

• Pigouvian taxNarrower topic: Pigouvian taxation grew from attempts to correct this broader market failure.

• Free-rider problemRelated: Contributions create benefits for others that contributors cannot fully capture.

• Environmental economicsNarrower topic: Pollution is a negative externality when its costs fall on others rather than polluters.

• Price mechanismRelated: Prices may miscoordinate decisions when they omit costs or benefits imposed on others.

• System boundaryRelated: Externalities arise when consequential effects fall outside a defined system boundary.

• Economic liberalismBroader topic: Pollution and other spillovers expose costs that private transactions may leave unpriced.

• Industrial pollutionRelated: Pollution costs often fall on communities and ecosystems rather than on the polluting producer.

• MarketRelated: Market prices may omit effects imposed on outsiders.

• Coase theoremNarrower topic: External effects create the conflicts that bargaining over resource use can resolve.

• DeregulationRelated: Removing rules can leave pollution or other spillover costs unpriced.

• Agglomeration economiesNarrower topic: Knowledge spillovers are positive externalities that firms may not capture themselves.

• Agricultural economicsRelated: Pollution, soil conservation, and ecosystem services can create costs or benefits outside farm transactions.

• EconomicsRelated: Externalities explain why market prices can fail to reflect social costs or benefits.

• Resource allocationRelated: Allocations that ignore spillover effects can direct resources toward socially costly uses.

• Infant industry argumentNarrower topic: The argument is strongest when firms cannot capture wider benefits from their early investments.

• First welfare theoremCompared with: Unpriced spillovers can break the link between private optimization and social efficiency.

• Law and economicsRelated: Legal rules are often analyzed as ways to make decision-makers account for external costs and benefits.

• Ronald CoaseRelated: Coase reframed externalities as conflicts among users of scarce resources.

• Shareholder valueRelated: Shareholder returns can omit costs imposed on workers, communities, or the environment.

• Economic efficiencyRelated: Unpriced effects make private incentives diverge from the full social costs or benefits relevant to efficiency.

• Consumer sovereigntyRelated: Consumer purchases can guide production while leaving costs to nonbuyers unrepresented in prices.

• Arthur Cecil PigouBroader topic: Pigou’s analysis centers on these spillovers between private decisions and social outcomes.

• Market efficiencyRelated: Unpriced spillovers make private choices diverge from socially efficient ones.

• Free marketBroader topic: Unpriced spillovers show how private decisions can affect others without market compensation.

• Garrett HardinRelated: A herder gains from adding an animal while spreading part of the resulting cost across other users.

• Invisible handCompared with: Unpriced spillovers can make private incentives diverge from social welfare.

• By-productCompared with: A by-product becomes an externality when its effects fall on others without compensation.

• Economics of educationNarrower topic: Education may benefit communities and economies beyond the individual who receives it.

• NIMBYNarrower topic: Nearby projects can impose noise, traffic, or perceived risks on neighbors who receive few direct benefits.

• Public economicsRelated: Unpriced spillovers can justify corrective taxes, subsidies, or regulation.

• Business economicsRelated: A firm's private costs can omit harms or benefits borne by workers, communities, or the environment.

• Economic systemBroader topic: Unpriced effects can make private decisions diverge from social outcomes.

• Market anarchismRelated: Pollution and other spillovers test how voluntary systems can address harms to nonparticipants.

• MicroeconomicsRelated: External costs and benefits can make private choices diverge from social costs and gains.

• Fundamental theorems of welfare economicsRelated: Unpriced external effects invalidate the first theorem’s efficiency conclusion.

• Normative economicsRelated: Policy proposals to address externalities depend on how private and social costs should be weighed.

• Victimless crimeRelated: Externalities offer a way to describe indirect harms without identifying a conventional crime victim.

• Business (commerce)Related: Business activity can impose costs or benefits not reflected in market prices.

• Health Care Economics and OrganizationsRelated: Vaccination and infectious disease create spillovers that private choices may not account for.