Readership: Academic economists and postgraduate students interested in the study of externalities in economic theory, or those who need to incorporate an analysis of externalities into their field of research.
Andreas A. Papandreou, Centre for Social and Economic Research on the Global Environment, University College, London
"'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.'" - Malcolm Rutherford, Journal of Economic Literature
"'[any] reader interested in externality theory, institutional analysis, or public policy will profit from reading this book'" - E. C. Pasour, Jr., American Journal of Agricultural Economics
Introduction 1: A History of the Notion of Externality 2: Phenomenological Characterization 3: General Equilibrium Approach 4: Nonconvexity 5: Relevant Causality 6: The Sources of Many Meaning 7: Formation of Institutions and Efficiency 8: Wealth Maximization 9: Transaction Costs, Efficiency and Counterfactuals Conclusion Bibliography Index
