| 单词 | externality |
| 释义 | externality A cost or benefit arising from any activity which does not accrue to the person or organization carrying on the activity. External costs or diseconomies are damage to other people or the environment, for example by radiation, river or air pollution, or noise, which does not have to be paid for by those carrying on the activity. External benefits or economies are effects of an activity which are pleasant or profitable for other people who cannot be charged for them, for example fertilization of fruit trees by bees, or the public's enjoyment of views of private buildings or gardens. Externalities may be technological or pecuniary. Technological externalities affect other people in non-market ways, for example by polluting their water supply; they create a prima facie case for intervention in the interests of efficiency. Pecuniary externalities mean that other people are affected through the market: for example, a new industry may raise labour costs for other employers, or reduce the value of their capital by capturing their customers. Pecuniary externalities do not create any prima facie case for intervention, except possibly on grounds of income distribution. See also: compensation for externalities, consumption externality, internalizing externalities, network externality, and production externality |
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