KnowraExternalityLinked fromLinked fromThe 51 pages that link to Externality, each with the reason it gives.All 51Broader topic 6Related 31Narrower topic 9Compared with 5Information asymmetryCompared with: Externalities arise from spillovers, not necessarily unequal knowledge between parties.General equilibrium theoryCompared with: Unpriced effects can prevent competitive equilibrium from being Pareto efficient.First welfare theoremCompared with: Unpriced spillovers can break the link between private optimization and social efficiency.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.