Economics Dictionary of Arguments

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Externalities: Externalities are unintended side effects or consequences, positive or negative, of economic activities impacting third parties not involved in the transaction. They occur when the actions of individuals or businesses generate spillover effects on others' welfare or resources, without compensation. Examples include pollution affecting communities or innovations benefiting industries beyond the innovator. See also Compensation, Economy.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Ronald Coase on Externalities - Dictionary of Arguments

Mause I 157
Externality/External Effects/Coase: as long as individuals can negotiate the exchange of goods and rights free of charge, the initial distribution of rights of disposal is irrelevant. This means that there are no external effects.
Externality/Coase: Thesis: an externality always has two "injuring parties": the author of an impairment suffers because he is required to cease or reduce his activity.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Coase, Ronald
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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