| 单词 | internalizing externalities |
| 释义 | internalizing externalities Methods of getting those producing external costs or benefits to take account of them in their decision-taking. This is partly a question of information: once individuals or firms realize that their actions are causing external costs or benefits, conscience, business ethics, or a concern for their reputation may induce them to avoid or reduce activities causing external costs, and to increase activities conferring external benefits. Internalizing externalities also involves motivation, however. There is a disincentive to causing external damage if one is made to pay for it, by taxes on activities causing external damage, or an obligation to compensate the victims. Alternatively, prohibition or quantitative restriction of activities involving adverse externalities gives those causing them an incentive to avoid fines or jail for breaching such rules. Where damage is highly concentrated, a merger of firms may internalize the damage, since what were formerly external effects now become costs to the firm. This method may lead to problems over monopoly, and is not practicable where damage is widely diffused. |
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