KnowraExternalityLinked fromLinked fromThe 51 pages that link to Externality, each with the reason it gives.All 51Broader topic 6Related 31Narrower topic 9Compared with 5Welfare 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.Economic liberalismBroader topic: Pollution and other spillovers expose costs that private transactions may leave unpriced.Arthur Cecil PigouBroader topic: Pigou’s analysis centers on these spillovers between private decisions and social outcomes.Free marketBroader topic: Unpriced spillovers show how private decisions can affect others without market compensation.Economic systemBroader topic: Unpriced effects can make private decisions diverge from social outcomes.