Learn how economists measure externalities using equilibrium models, cost assessments, and qualitative methods. Gain insight into real-world and theoretical impacts.

A series of recent protests by the workers preparing and delivering our essential foods and other goods highlights a key risk to our ability to combat the coronavirus. With most Americans sheltering ...

Most economic externalities can be efficiently solved through a system of private property rights, in which costs and ...

Wine growers everywhere fear spring frosts. New vine buds emerge in the spring and are highly susceptible to freezing temperatures which can kill them and result in significant crop loss for the year.

Consumption, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

The COVID-19 pandemic has highlighted the high costs that unchecked externalities – such as those resulting from people not wearing face masks – can impose on an economy and society. Economists must ...

Economics is a field that exists between scientific objectivity and subjective interpretation. Suppose a policymaker is trying to decide whether a proposed new tax is a good idea. One economist might ...

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 costs ...