The costs and benefits can be both private—to an individual or an organization—or social, meaning it can affect society as a whole. An externality is an event that occurs as a byproduct of ...

As a result, there are differences between private returns or costs and the returns or costs to society as a whole. Negative and positive externalities In the case of pollution—the traditional example ...

The externality may have a positive or a negative effect on that party. Property rights are often at the heart of externalities. A legal system that protects private property rights is often the ...

tariffs “address [an] externality.” Externalities are the idea that our private purchases of economic goods may affect others in ways not accounted for at the time of purchase. Cass uses the ...

Al Gore and David Blood’s op-ed “ESG Investing Is Consistent with Fiduciary Duty” (Nov. 9) includes two examples that highlight the best way to handle externalities, the economic term for ...

An ”externality” seems a simple enough concept ... Of course, a restaurant or pub is not a public space: it’s a private space in which the public gather. (If you think a restaurant is ...