Because the options for controlling Verticillium wilt require long-term investments for future gain, an intertemporal externality
arises with short-term growers, who are likely to rent the land for only a short period of time.
Interestingly, we find that the market power externality
is about twice as large as the demand externality
, but both externalities are needed for the model to admit multiple equilibria with parameters that are consistent with the empirical evidence on shopping behavior.
35) To control this externality
, the NYC Ordinance imposed height limits and setback requirements.
Both of those variables in the presence of a mild consumption externality
rise when we introduce a 1% increase in TFP.
The first kind of justice-sensitive negative externality
The remainder of the paper explores regulatory law in a variety of policy areas to convince the reader that command-and-control regulation could be replaced by externality
prices, and such actions would be upheld by the courts.
This is referred to as the accident externality
While positive externality
frames are more effective in inspiring voluntary action, negative frames have serious implications for policy decision-making.
We then use difference-in-differences regressions to estimate the externality
associated with a major big-box closing on outcomes for neighborhoods of differing sizes around the store.
Nalebuff (1997: 35-37), for example, has argued that for environmental problems "as the scope of the externality
affects more and more people, it becomes increasingly difficult to assign property rights.
The Economic Record controversy, on the face of it, turned on the effects of the passage of time on Coase's conclusions regarding the allocative efficiency and invariance associated with alternative legal rules governing externality
situations specifically, the incentives related to future decisions and actions, including the possibility of blackmail, created by alternative legal rules.
It uses externality
theory, global public goods theory, and game theory to provide a recommendation on the "best" approach to the problem.
In this context, emerges the concept of externalities in the analytical framework of the so-called welfare economy; economists use the externality
term to demonstrate the premise that some of the benefits of public research and development channeled through the public universities are transferred to other economic agents other than the research group or Faculty that undertakes the research.
bidder who expects to suffer a pecuniary externality
by losing a bidding
This obvious externality
required policy responses in the emerging countries: limits on capital inflows, reserve accumulation, and measures to restrict credit and restrain asset-price inflation.