Essay for the Course: Public Economics.
Essay: How Does the Presence of Externalities Explain Government Intervention in Health Care Production and Financing?.
It is showed 12 out of 27 pages.
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Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Negative Externalities and Positive Externalities in A-Level and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
Impact of Business on the Community: Efficiency in Perfectly Competitive MarketsBobbyPabores1
Governor Felicisimo T. San Luis National Agro-Industrial HS Empowerment Technology Impact of Business on the Community:
Efficiency in Perfectly Competitive Markets
and Impact of Business on the Community:
Market Failure
Market failure is the situation in which an unregulated competitive market is inefficient because prices fail to provide proper signals to consumers and producers.
A continuación se muestra el artículo que habla sobre el problema del Costo Social para la Asignatura de Economía Pública Avanzada impartida en la licenciatura de Economía de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Más información en:
https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
Similar to Ec386. how does the presence of externalities explain government intervention in health care production and financing . carlos alonso. essay
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Negative Externalities and Positive Externalities in A-Level and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
Impact of Business on the Community: Efficiency in Perfectly Competitive MarketsBobbyPabores1
Governor Felicisimo T. San Luis National Agro-Industrial HS Empowerment Technology Impact of Business on the Community:
Efficiency in Perfectly Competitive Markets
and Impact of Business on the Community:
Market Failure
Market failure is the situation in which an unregulated competitive market is inefficient because prices fail to provide proper signals to consumers and producers.
Divergence between Social and Private costs and benefits
Similar to Ec386. how does the presence of externalities explain government intervention in health care production and financing . carlos alonso. essay (20)
A continuación se muestra el artículo que habla sobre el problema del Costo Social para la Asignatura de Economía Pública Avanzada impartida en la licenciatura de Economía de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Más información en:
https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
Pruebas sobre teoría de muestro y fuentes estadísticas en Economía. Actividad realizada para la asignatura de Teoría de Muestreo y Fuentes Estadísticas de la Licenciatura de Economía de la Universidad de Valladolid. Siendo Profesor : Jose Antonio Sanz Gómez, Decano de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es
Película: Tiempos Modernos de Charles Chaplin como actor, comentada desde el punto de vista de la Economía del Sector Público. Trabajo realizado Economía del Sector Público, de la licenciatura de Economía, cuarto curso en la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Se muestran 6 de 10 páginas posibles.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
La Investigación Ayuda a Whirlpool a Nivel Local en el Mercado Global, Resolución del caso del artículo que tiene como nombre dicha descripción: La Investigación Ayuda a Whirlpool a Nivel Local en el Mercado Global. Se trata de la resolución de una serie de preguntas por equipo a través de la estrategia seguida por Whirlpool en el extranjero, centrándose en Brasil, Europa y en China e India.
Asignatura de Marketing Internacional del Máster Oficial de Comercio Exterior
Se muestran 5 / 7 páginas.
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Con el presente trabajo trato de identificar la postura del autor “El Roto” en relación
a los diversos tipos de sistemas que podemos encontramos en el mundo actual:
Economía Convencional, Ecología Convencional y Economía Ecológica.
Economía del Sector Público, asignatura de 4ª curso de la Licenciatura de Economía de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Profesor: Joaquín Romano Velasco. Se muestran 4 de 6 páginas.
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Práctica Número 4 para la asignatura de Economía del Sector Público: Fiscalidad Medioambiental: Iniciativas y Orientaciones Actuales.
Se muestran 4 páginas de 6 posibles.
Asignatura Obligatoria de cuarto curso de la Licenciatura de Economía de la Universidad de Valladolid.
Profesor: Joaquín Romano Velasco.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
Presentación en Power Point sobre una ficticia encuesta realizada a 324 estudiantes sobre un estudios de mercados para una empresa de transporte que opera tanto en España como a nivel Internacional. La empresa desea saber cuál es la mejor forma de de introducirse en el ámbito de las compras vía internet. La encuesta ficticia solo se llevará a cabo a los alumnos de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
La asignatura es para Tª de Muestro y Fuentes Estadísticas.16/17 transparencias posibles.
Profesor: José Antonio Sanz Gómez, Decano de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
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Trabajo Final para la Asignatura de Economía Regional de España y de Castilla y León, asignatura optativa de cuarto o quinto curso de la Licenciatura de Economía impartida en la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid.
Profesor: Ramiro García Fernández.
Se muestran 16 de 38 páginas posibles.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
Resumen de fórmulas más usadas en Estadística y en particular en Teoría de Muestreo y Fuentes Estadísticas.
Asignatura impartida en la Licenciatura de Economía de la Universidad de Valladolid en 4ª curso o 5ª curso.
Profesor: D. José Antonio San Gómez.
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Documental: Agua Dulce Vista desde el Cielo.
Práctica sobre el documental descrito anteriormente para la asignatura de Economía de los Recursos Naturales y del medio Ambiente.
Profesor: Joaquín Romano Velasco.
Facultad de CC.EE y EE. Universidad de Valladolid
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
A glance on ireland in the global financial crisis financial markets. carlo...Carlos Alonso Rodríguez ☁
Final Term Paper: A Glance on Ireland in the Global Financial Crisis: Financial Markets.
Essay for the course: Ireland, Europe and The Global Economy.
It is showed 13 put of 26 pages.
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Final Term Paper for the Course: Irish Economics History. Topic: Irish Evolution Population from 1813 to 1841. National University of Ireland, Galway.
It is showed 11 out of 15 pages.
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Intercambios Comerciales de la Unión Europea con Estados Unidos, China, Japón...Carlos Alonso Rodríguez ☁
Informe Completo de la Primera Práctica de Marco Comercial de la Unión Europea, asignatura impartida por D. Pablo Gordo, en el Máster Oficial de Comercio Exterior impartido en la Universidad de Valladolid.
Nombre de la Práctica: Intercambios Comerciales de la Unión Europea con Estados Unidos, China, Japón y Rusia.
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Documento informativo sobre el protocolo a llevar en los casos en los que hay que excusarse ante una mala entrega. Documento para la asignatura de Protocolo y Negociación Internacional del Máster Oficial en Comercio Exterior de la Universidad de Valladolid. Total de páginas del Documento: 8. Se muestran solo 2. Para texto completo, no duden en contactar conmigo.
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Proyecto: Posibilidades de Expansión por Oriente Medio (Negociando a través de Bechara). Asignatura: Negociación Internacional y Protocolo, de la asignatura del Máster Oficial en Comercio Exterior de la Universidad de Valladolid.
Se muestran 5 de 18 páginas.
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Trabajo en grupos para la asignatura de Financiación Internacional impartida en el Máster Oficial de Comercio Exterior de la Universidad de Valladolid.
Trabajo: El Comercio de Compensación.
Se muestran 7 páginas de las 36 totales.
Más Información en: https://www.linkedin.com/profile/preview?vpa=pub&locale=es_ES
http://www.blogmisproyetosuniversitarios-carlos.blogspot.com.es/
Programa de ayudas en comercio exterior de castilla y león, valladolid provin...Carlos Alonso Rodríguez ☁
Programa de Ayudas al Comercio Exterior actualizadas hasta el 01 de Enero de 2015 proporcionadas por la Castilla y León (Junta de Castilla y León y empresas privadas), la provincia de Valladolid (a través de la Diputación Provincial de Valladolid) y el Ayuntamiento de Valladolid.
Asignatura: Financiación Internacional del Máster Oficial de Comercio Exterior de la Universidad de Valladolid.
Se muestran 9 de 24 páginas.
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Informe de la Empresa Virtual usando OpenBravo. Empresa Virtual: MasterCar S.L. Directivos: Victoria Adriana, Mario Vegas y Carlos Alonso. Profesores: Óscar y David Pérez Román. Asignatura: Informática Aplicada al Comercio Exterior, impartida en la Universidad de Valladolid.
Se muestran 18 de las 66 páginas de dicho informe final.
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Course: Commercial English, taught by Pedro Fuertes. Máster in International Trade . Valladolid University. It is showed 2 out of 4 pages.
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The European Unemployment Puzzle: implications from population aging
Ec386. how does the presence of externalities explain government intervention in health care production and financing . carlos alonso. essay
1.
2. The following pages of this essay have the objective of understanding how the presence
of externalities can explain government intervention in health care production and
financing.
According with the First Fundamental Theorem of Welfare Economics “…an unfettered
competitive market system in which both consumers and producers are intent on
maximizing their individual net benefits will lead to the maximization of society´s net
benefit”.
It is this claim that provides the major theoretical basis for the preference for the market
over other methods of economic organisation. However, this prediction rests on certain
standard assumptions about the way the market operates. If this is not the case, market
failure will arise. This means that the market systems will not produce the equitable
level of output, for instance, if externalities appear, these produce market failure, in
such case, government intervention, through public policy, may be employed to
reallocate or redistribute resources in an effort to achieve the equitable level of output.
That government intervention happens for example, in the health care.
3. 1 Introduction
2 Positives Externalities in
Health Care
2.1 Explanation and Analysis Positives
Externalities in Health Care
2.2 Government Intervention
3 Negatives Externalities in
Health Care
3.1 Explanation and Analysis Negatives
Externalities in Health Care
3.2 Government Intervention
4 Bibliography
4. The healthcare sector may be characterised by the presence of externalities which
is one of the most readily identifiable indicators of market failure in this sector.
Due to these externalities the public sector remains the main agent responsible for
the finance and delivery of health services in the most development countries.
The externalities are defined as the uncompensated impact of one person’s action
on the well-being of a bystander, in other words, an externality occurs whenever
the actions of one party make another party worse or better off and the first party
neither bears the costs nor receives the benefits from doing so. The externalities
can be positive (or external benefits) or negative (or external costs) and can be in
the production and/or in the consumption. This definition of an externality
implicitly distinguishes between two broad categories: A production externality
occurs when the effect of the externality is on a profit relationship and a
consumption externality whenever a utility level is affected. Clearly, an
externality can be both a consumption and a production externality
simultaneously.
A good that produces a positive externality is similar to a public good, in that
some of its benefits are non-excludable and accrue to others than just the direct
consumer. However, such goods may be rivalrous and may be partially
excludable, so that some private provision occurs even if the level of production is
inadequate.
The externalities appear when private costs or benefits are out of line with social
costs or benefits. For a positive/negative externality, private benefits/costs are less
than social benefits/costs, meaning that output is below/above the socially optimal
level. The standard solution to an externality is to levy a Pigouvian tax in the case
of goods or services that produce negative externalities.
Free childhood vaccinations against infectious diseases and excise taxes on
cigarettes are the most obvious examples of government intervention in the health
sector due to the presence of externalities. A vaccinated population confers a
positive externality on society because people vaccinated against an infectious
disease for example, are not able to spread the infectious disease through the rest
of the country so that they prevent that other persons can be infected whereby in
general the healthcare of the country would better off (benefit to all in society,
including those who do not consume it) while second-hand cigarette smoke
confers a negative externality on society because smoking cigarettes harm not
only the health of the people who consume the cigarettes but the general
environment since the smoke spreads into the atmosphere and specially the people
who is close to the origin of the externality (cost to all in society, including those
5. who do not consume it ) ; in the absence of government intervention, vaccination
levels would be less than the socially optimal level due to higher social benefits
than private benefits, while cigarettes smoking levels would be greater than the
socially optimal level due to higher social cost than private costs. So that,
activities generating positive externalities are under-produced (too little
consumption or production) and those generating negative externalities are over-
produced (too much consumption or production). Of course, the efficacy of taxes
in changing behaviour to reflect the socially optimal level depends on the price
elasticity of demand for the good/service, the availability of substitutes, its budget
share, etc.
In the following pages we are going to use the following notation: we have
Marginal Social Benefit (MSB) is equal to the Marginal Private Benefit (MPB)
plus the Marginal External Benefit (MEB) where MEB>0 (positive externality in
consumption) and thereby MPB will not equal to MSB. Without Market Failure
the optimum would be: MPB=MSB thereby MEB=0. For negative externalities in
consumption MSB=MPB-MEB.
The decisions that consumers and producers make in the private market are based
on private marginal benefits and do not take into account the true MSB thereby
Pareto efficiency is unlikely to be achieved in the market.
On the other hand we have Marginal Social Cost (MSC) is equal to the Marginal
Private Cost (MPC) plus the Marginal External Cost (MEC) (negative externality
in production), where MEC>0 and thereby MPC will not equal to MSC. Without
Market Failure the optimum would be: MPC=MSC thereby MEC=0. For positive
externality in production MSC=MPC-MEC.
The decisions that consumers and producers make in the private market are based
on marginal private costs and do not take into account the true MSC thereby
Pareto efficiency is unlikely to be achieved in the market.
6. Social benefit: benefit to all in society, including those who do not be affected in
his production. Equals private benefit of production plus benefit to others.
Causes market failure (too little production).
The positive externality in production leads to a social marginal cost that is below
the private marginal cost and a social optimum quantity (Q2) that it is greater than
the competitive market equilibrium quantity (Q1).
There is under-production with an associated deadweight loss of area ABC
because the private market produces less than the socially accepted or social
optimum. Under-production in Q2-Q1. I.e. MSC<MSB. So that, in the private
market, when the production is Q1 units and the price is P1, the private market
doesn’t reach a Pareto efficient level of output, in this case we are in a Pareto
inefficient level of output. The private market does not take into account the true
MSC. The private market is producing less than optimum social.
One example of one externality positive in production which affects another
producer analytically is the next:
x
f
f
RMT y
x
x
y
y
yx
∂
∂
−
∂
∂
∂
∂
=
Φ
Φ
Φ
=+
=
=
0yx
yy
xx
fff
)x,f(y
)f(x
Φ
Φ
7. Where x= quantity produced by the company X and y= quantity produced by the
company Y. Note that the quantity produced by the company Y depends on the
quantity produced by the company X. You can see that in the production function
of the company Y.
But the private market operates as if
Therefore for the Private market:
As the externality in production is positive:
So, to reach additional units of the good or service produced by the company X:
“x”, the individuals are willing to give up more units of the quantity produced by
the company Y: “y” than are imposed on conditions production.
Efficiency is achieved by producing more of the good or service that generates the
positive externality, so in our case producing more units of x.
Private markets make the production of the good or service that causes the
externality positive is too little.
One example of a positive externality in production which affects at one consumer
is the next:
Where U is the utility of the consumer which depends on the quantity produced by
the company X: “x”.
The private market operates as if:
0
x
y
=
∂
∂Φ
I1,2,...,iRMS
f
f
RMT i
yx
x
x
y
y
.comp
yx ==
∂
∂
∂
∂
=
Φ
Φ
>
∂
∂
0
x
yΦ
x
f
f
RMT y
x
x
y
y
real
yx
∂
∂
−
∂
∂
∂
∂
=
Φ
Φ
Φ
.comp
yxRMT< I1,2,...,iRMSi
yx ==
>=
=
0')x(z
)z,y,x(UU
ϕϕ yy
xreal
yx
UMg
'
z
U
UMg
UMg
RMS
ϕ
∂
∂
+=
0
z
U
=
∂
∂
yx
.
RMT==
y
xcomp
yx
UMg
UMg
RMS
8. As the externality in production is positive:
So, to reach additional units of the good or service produced by the company X:
“x”, the individuals are willing to give up more units of the quantity produced by
the company Y: “y” than are imposed on conditions production.
Efficiency is achieved by producing more of the good or service that generates the
positive externality, so in our case producing more units of x.
Private markets make the production of the good or service that causes the
externality positive is too little.
2.) Analysis Positive Externality in Consumption.
Positive externality: where social benefit of consumption of good or service
exceeds private benefit.
Private benefit: Benefit to consumers who buy and consume the good or service.
Social benefit: benefit to all in society, including those who do not consume it.
Equals private benefit of consumption plus benefit to others.
Causes market failure (too little consumption).
P
Q
D = MPB
S = MPC = MSC
>
∂
∂
0
z
U
yy
xreal
yx
UMg
'
z
U
UMg
UMg
RMS
ϕ
∂
∂
+= .comp
yxRMS> yxRMT=
9. Social cost: cost to all in society, including those who do not be affected in his
production. Equals private cost of production plus cost to others.
Causes market failure (too much production).
A negative production externality leads to a marginal social cost that is above the
marginal private cost.
0
1
2
3
4
5
0 10 20 30 Q
P
€
Demand curve shows
private value or MSB or
MPB, the value to buyers
(the prices they are willing
to pay).
Market Supply curve
shows MPC, the costs
directly incurred by
producers.
The Private market
eq’m maximizes
consumer
+ producer surplus.
€2.50
25 P= Price good or service
Q= Quantity produced
good or service
0
1
2
3
4
5
0 10 20 30 Q
P
€
Supply (private cost)
MPC
= value of the
negative impact
on bystanders
= €1 per quantity unit
(value of harm
from negative
impact)
MSC
= MPC + MEC
external
cost
10. There is over-production, because the private market produces more (25) than the
socially accepted or social optimum (20). Over-production in 25-20=5. I.e.
MSC>MSB. So that, in the private market, when the production is 25 units and
the price is €2.5, the private market doesn’t reach a Pareto efficient level of
output, in this case we are in a Pareto inefficient level of output. The private
market does not take into account the true MSC. The private market is producing
more than optimum social.
One example of one negative externality in production which affects another
producer analytically is the next:
0
1
2
3
4
5
0 10 20 30 Q
P
€
DM
SM
MSC
Private Market
eq’m
(Q = 25)
is greater than
social optimum
(Q = 20).
25
This yellow
triangle is the
deadweight or
welfare loss.
=+
=
=
0yx
yy
xx
fff
)x,f(y
)f(x
Φ
Φ
x
f
f
RMT y
x
x
y
y
yx
∂
∂
−
∂
∂
∂
∂
=
Φ
Φ
Φ
11. Where x= quantity produced by the company X and y= quantity produced by the
company Y. Note that the quantity produced by the company Y depends on the
quantity produced by the company X. You can see that in the production function
of the company Y.
But the private market operates as if
Therefore for the Private market:
As the externality in production is negative:
So, to reach additional units of the good or service produced by the company X:
“x”, the individuals are willing to give up less units of the quantity produced by
the company Y: “y” than are imposed on conditions production.
Efficiency is achieved by producing less of the good or service that generates the
negative externality, so in our case producing less units of x.
Private markets make the production of the good or service that causes the
negative externality is too much.
One example of a negative externality in production which affects at one
consumer is the next:
Where U is the utility of the consumer which depends on the quantity produced by
the company X: “x”.
The private market operates as if:
As the externality in production is negative:
0
x
y
=
∂
∂Φ
I1,2,...,iRMS
f
f
RMT i
yx
x
x
y
y
.comp
yx ==
∂
∂
∂
∂
=
Φ
Φ
<
∂
∂
0
x
yΦ
x
f
f
RMT y
x
x
y
y
real
yx
∂
∂
−
∂
∂
∂
∂
=
Φ
Φ
Φ
.comp
yxRMT> I1,2,...,iRMSi
yx ==
>=
=
0')x(z
)z,y,x(UU
ϕϕ yy
xreal
yx
UMg
'
z
U
UMg
UMg
RMS
ϕ
∂
∂
+=
0
z
U
=
∂
∂
yx
.
RMT==
y
xcomp
yx
UMg
UMg
RMS
<
∂
∂
0
z
U
12. A tax of t* per unit (equal to the marginal damage in the health care) increases the
firm´s marginal private cost curve from OM to O*M, which coincides with the
MSC curve in the efficient level. The quantity produced falls from QM to Q*, the
socially optimal level of production. Just as the Coasian payment, this tax
internalizes the negative externality and removes the inefficiency of the negative
externality.
Some problems could happen when we are trying to value the function of the
external cost (could vary according with the context). We can as well find
troubles at the moment knowing the consumption or production each agent (used
to calculate his tax payment). There are incentives to hide the information (to
avoid payment tax). Levy tax could affect to the efficiency. The distributive
effects, who holds finally the tax, influence on achieved equilibrium.
2.) Subsidy.
Subsidy means that the government pays to an individual or firm that lowers the
cost of consumption or production, respectively. The public sector pays per each
unit in which consumption or production of the good or service causing the
negative externality is reduced once exceeds its efficient level a subsidy whose
amount corresponds to the value of the marginal external cost in efficiency.
This means that resources are redistribute from society to those causing the
negative externality.
A subsidy of s* per unit (equal to the marginal damage in the health care)
increases the firm´s marginal private cost curve from OM to O*M, which coincides
with the MSC curve in the efficient level. The quantity produced falls from QM to
Q*, the socially optimal level of production.