Externality and Institutions - Softcover
This is a concise and distinctive survey of externality theory. Externalities are the costs and benefits imposed when a decision such as that to build a new road is taken. The author both reviews the existing literature and provides a methodological guide for economists wishing to utilize the externality theory. The book affords an indispensable description of the ideas and issues behind the theory of externalities.
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About the Author:
"The reader interested in externality theory, institutional analysis, or public policy will profit from reading this book. The author's analysis of the complex notion of externality emphasizes anew the inherent dilemma with the neoclassical idea of economic inefficiency."--American Journal of Agricultural Economics
"Papandreou's efforts to clarify the various meanings given to the externality concept, and his emphasis throughout on the centrality of issues of institutions are of great value, and will be of significant aid to those seeking to further advance the discussion."--Journal of Economic Literature
Andreas A. Papandreou is with the Centre for Social and Economic Research on the Global Environment at University College, London.
Review:
"The reader interested in externality theory, institutional analysis, or public policy will profit from reading this book. The author's analysis of the complex notion of externality emphasizes anew the inherent dilemma with the neoclassical idea of economic inefficiency."--American Journal of Agricultural Economics
"Papandreou's efforts to clarify the various meanings given to the externality concept, and his emphasis throughout on the centrality of issues of institutions are of great value, and will be of significant aid to those seeking to further advance the discussion."--Journal of Economic Literature
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- PublisherClarendon Press
- Publication date1998
- ISBN 10 0198293070
- ISBN 13 9780198293071
- BindingPaperback
- Number of pages320
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EXTERNALITY AND INSTITUTIONS
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(1998)
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Book Description Paperback. Condition: new. Paperback. Pollution, higher traffic noise, or a poisoned river are all examples of externalities---costs (or benefits) which are imposed by an action but which are not built in to the price of that action. One of the problems of economic theory is whether, when analysing the desirability of a new road, for example, the costs that occur as externalities can be fully incorporated into the price of that road. Dr Andreas Papandreou has provided a book which fully explains andanalyses the ideas lying behind the theory of externalities. Papandreou has made a survey of the various methodological approaches taken by economists to the issue of eternalities,and the failure of some markets to reconcile individual and social costs and benefits. He tackles the difficult issue of defining or characterizing externalities, surveys the current literature, and investigates the effect that externality theory has had on major economic issues. His major theme is an exploration of institutional inefficiency and the implications of incorporating organizational costs into economic models. Written in a non-technical style, this book issuitable not only for those economists who make a study of externalities, but for those who need to understand the theory for their own fields of research, and for postgraduate students. Pollution and higher traffic noise are examples of externalities - costs imposed by an action but not built into the price of that action. This book aims to provide an analysis and explanation of this problem area of economic theory. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. Seller Inventory # 9780198293071
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