Externalities are spill-over effects from production and consumption that are not compensated for through the market. They can be positive or negative and cause market failure if social costs and benefits are not accounted for. Private costs and benefits differ from social costs and benefits due to externalities. For example, with negative externalities, social costs exceed private costs, leading to overproduction. Economists value externalities using methods like shadow pricing and willingness to pay. Governments consider net social benefits when deciding between projects to maximize returns to society.
Externalities are spill-over effects from production and consumption for which no appropriate compensation is paid
Externalities lie outside the initial market transaction / price
Externalities cause market failure if the price mechanism does not take account of the social costs and benefits of production and consumption
This presentation by Gianni De Stefano (Director Global Competition Law, AkzoNobel, Belgium) was made during the discussion “Sustainability and competition” held at the 134th meeting of the OECD Competition Committee on 1 December 2020. More papers and presentations on the topic can be found at https://oe.cd/stbc.
This presentation was uploaded with the author’s consent.
Externalities are spill-over effects from production and consumption for which no appropriate compensation is paid
Externalities lie outside the initial market transaction / price
Externalities cause market failure if the price mechanism does not take account of the social costs and benefits of production and consumption
This presentation by Gianni De Stefano (Director Global Competition Law, AkzoNobel, Belgium) was made during the discussion “Sustainability and competition” held at the 134th meeting of the OECD Competition Committee on 1 December 2020. More papers and presentations on the topic can be found at https://oe.cd/stbc.
This presentation was uploaded with the author’s consent.
Energy efficiency trends in the EU: Have we got off track?Diedert Debusscher
What has been the overall trend in final energy consumption and by sector in the EU since 2000? What are the main drivers of the energy consumption variation since 2000, and what has been the impact of energy savings? What are the trends in energy efficiency at the country level?
These are the key questions that will guide you through this webinar analysing energy efficiency trends in the EU for the period 2000-2019.
This presentation deck was used during the 9th webinar in the Odyssee-Mure on Energy Efficiency Academy on 25 June 2020. Recordings are available on https://www.youtube.com/user/LeonardoENERGY/videos?view=0&sort=dd&flow=grid
The webinar is an approximately 45 min presentation, followed by a live Q&A session with the panellists.
Market based instruments as a policy instrument for environmental problemsGlen Speering
A short (15min) presentation on examples of market based instruments for addressing environmental problems. Definitions, caveats and popularity are covered.
This presentation by Nadine Watson, Senior Vice President, Compass Lexecon, was made during the discussion “Environmental Considerations in Competition Enforcement” held at the 136th meeting of the OECD Competition Committee on 1 December 2021. More papers and presentations on the topic can be found out at oe.cd/ecce.
Sama Bilbao y Leon, Head of Division of Nuclear Technology Development and Ec...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This presentation by Darryl Biggar, Special Economic Advisor at the Australian Competition and Consumer Commission (ACCC) and the Australian Energy Regulator (AER), was made during the discussion “Radical innovation in the electricity sector” held at the 63rd meeting of the OECD Working Party No. 2 on Competition and Regulation on 19 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZW.
Concepcion Blanco Aguado, Head of Sustainable Finance Solutions, BBVA Microfi...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This presentation by New Zealand Electricity Authority was made during the “Radical innovation in the electricity sector” held at the 63rd meeting of the OECD Working Party No. 2 on Competition and Regulation on 19 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZW.
An Economic View of Environmental ProtectioneAmbiente
Robert N. Stavins
Albert Pratt Professor of Business and Government
John F. Kennedy School of Government, Harvard University
Conference on Sustainability in Manufacturing
Assoreca and the Green Economy Network
Assolombarda Auditorium, Milano
November 20, 2014
Vu Thuy Dzung, Ministry of Natural Resources and Environment, Vietnam - GFENV...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
Energy efficiency trends in the EU: Have we got off track?Diedert Debusscher
What has been the overall trend in final energy consumption and by sector in the EU since 2000? What are the main drivers of the energy consumption variation since 2000, and what has been the impact of energy savings? What are the trends in energy efficiency at the country level?
These are the key questions that will guide you through this webinar analysing energy efficiency trends in the EU for the period 2000-2019.
This presentation deck was used during the 9th webinar in the Odyssee-Mure on Energy Efficiency Academy on 25 June 2020. Recordings are available on https://www.youtube.com/user/LeonardoENERGY/videos?view=0&sort=dd&flow=grid
The webinar is an approximately 45 min presentation, followed by a live Q&A session with the panellists.
Market based instruments as a policy instrument for environmental problemsGlen Speering
A short (15min) presentation on examples of market based instruments for addressing environmental problems. Definitions, caveats and popularity are covered.
This presentation by Nadine Watson, Senior Vice President, Compass Lexecon, was made during the discussion “Environmental Considerations in Competition Enforcement” held at the 136th meeting of the OECD Competition Committee on 1 December 2021. More papers and presentations on the topic can be found out at oe.cd/ecce.
Sama Bilbao y Leon, Head of Division of Nuclear Technology Development and Ec...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This presentation by Darryl Biggar, Special Economic Advisor at the Australian Competition and Consumer Commission (ACCC) and the Australian Energy Regulator (AER), was made during the discussion “Radical innovation in the electricity sector” held at the 63rd meeting of the OECD Working Party No. 2 on Competition and Regulation on 19 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZW.
Concepcion Blanco Aguado, Head of Sustainable Finance Solutions, BBVA Microfi...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
This presentation by New Zealand Electricity Authority was made during the “Radical innovation in the electricity sector” held at the 63rd meeting of the OECD Working Party No. 2 on Competition and Regulation on 19 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZW.
An Economic View of Environmental ProtectioneAmbiente
Robert N. Stavins
Albert Pratt Professor of Business and Government
John F. Kennedy School of Government, Harvard University
Conference on Sustainability in Manufacturing
Assoreca and the Green Economy Network
Assolombarda Auditorium, Milano
November 20, 2014
Vu Thuy Dzung, Ministry of Natural Resources and Environment, Vietnam - GFENV...OECD Environment
This OECD Global Forum on Environment dedicated on "Mainstreaming Gender and Empowering Women for Environmental Sustainability" took place on the 5th and 6th March 2020. Over two days, participants discussed the gender – environmental sustainability nexus, identifying and proposing ways to capitalise on synergies between environmental policies and economic and social goals, such as achieving gender equality and women’s economic empowerment.
The Global Forum covered the following issues:
• Integrating gender into environmental policies: Data and evidence challenges;
• Differentiated environmental impacts on women’s and men’s health and well-being;
• Sustainable and gender-inclusive urbanisation, settlements and transport infrastructure;
• Gender-specific consumption patterns, behavioural insights, and circular economy;
• Biodiversity, agriculture, fisheries: changing economic opportunities for women and men;
• Greening energy and ensuring a just transition for men and women;
• Environmental justice and empowering women and youth.
More information on the Global Forum on Environment focusing on gender can be found here: http://www.oecd.org/env/global-forum-on-environment-mainstreaming-gender-and-empowering-women-for-environmental-sustainability.htm
More information on the OECD Environment Directorate’s work on gender, inclusiveness and the SDGs can be found here: http://www.oecd.org/environment/gender-inclusiveness-and-sdg.htm
Evaluating Benefits and Costs of Globalisationtutor2u
This is a streamed version of a colour coded answer to a past exam question on the economics of globalisation. Each colour in the answer refers to a specific exam skill - knowledge, application, analysis and evaluation. I hope this approach might be interesting to students who want to configure their answer to get high marks in the A level exam. The crucial point is that contextual examples can make a huge different to the quality of your answer.
Market failure is the situation in which an unregulated competitive market is inefficient because prices fail to provide proper signals to consumers and producers.
Calculating the environmental impacts of public action -- Nils Axel Braathen,...OECD Governance
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How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
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It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2. Externalities and Market Failure
• Externalities are spill-over effects
from production and consumption
for which no appropriate
compensation is paid / received.
• Externalities lie outside the initial
market transaction / price
• Externalities cause market failure
if the price mechanism does not
take account of the social costs
and benefits of production and
consumption
• Externalities can be positive
and/or negative
Externalities are a major cause of market failure and are likely in
every market – be clear on the effects for producers and consumers
Negative
Production
Externalities
Negative
Consumption
Externalities
Positive
Production
Externalities
Positive
Consumption
Externalities
3. Private and External Costs and Benefits
• Private costs are the costs faced by the producer or consumer
directly involved in a transaction
• Private benefits are the benefits for producer and/or consumer
directly involved in an economic transaction
• The existence of externalities creates a divergence between
private and social costs of production and the private and social
benefits of consumption
• Social Cost = Private Cost + External Cost
• Social Benefit = Private Benefit + External Benefit
• When negative externalities exist, social costs exceed private
cost. This leads to over-production and market failure if
producers do not take into account the externalities
• When positive externalities occur, social benefits exceed private
benefit – this can also lead to market failure
4. Summary of Private and Social Costs and Benefits
• Cost to the producing firm of producing an additional unit of output
Marginal private cost (MPC)
• Cost to third parties from the production of an additional unit of output
Marginal external cost (MEC)
• Total cost to society of producing an extra unit of output. MSC = MPC + MEC
Marginal social cost (MSC)
• Benefit to the consumer of consuming an additional unit of output
Marginal private benefit (MPB)
• Benefit to third parties from the consumption of extra unit of output
Marginal external benefit (MEB)
• Total benefit to society from consuming an extra unit, MSB = MPB + MEB
Marginal social benefit (MSB)
5. How do economists value externalities?
A key aspect of all externalities is the difficulty of assigning values
• Shadow pricing: e.g. the external cost of road congestion can be
calculated by multiplying the number of hours lost by the average
wage e.g. 1m lost working hours x £12 average hourly wage =
£12m
• Compensation: estimate the cost of ‘putting right’ an externality
e.g. include the cost of installing double glazing in houses affected
by increased road noise from a new motorway. If 200 houses are
affected each with £5,000 double glazing cost, increased road
noise is estimated at £1m
• Revealed preference: how much people are willing to pay to
avoid an externality e.g. if 200 householders are willing to pay
£2,000 each to avoid noise, the externality is valued at £0.4m
6. Calculating Social Costs & Social Benefits – An Example
New city
motorway
New schools
Airport
extension
New
hospitals
Private benefits 50 135 130 90
Private costs 120 80 100 65
Positive externalities 90 55 35 120
Negative externalities 60 20 60 45
Net private benefit -70 +55 +30 +35
Net social benefit -40 +90 +5 +100
A government is considering four investment projects. It has the
resources to finance and implement only one of these projects.
Net social benefit may be taken into account by a government when
deciding which project offers the best potential return for society
7. External Costs and Benefits from Wind Farms
Private
Costs
Cost of land +
planning permission
Cost of
manufacturing the
wind turbines
Installation costs
Labour costs
External
Costs
Visual pollution for
some people
Installation and
transport
congestion
Falling property
prices in area
Private
Benefits
Cheaper electricity
in the long run
(especially if
economies of scale
and new wind farm
technology can be
used)
Less impact on
personal health
than fossil fuels
External
Benefits
Fewer harmful gases
emitted
Employment created
– multiplier effects
Technology used can
be exported
overseas
Lower taxpayer
subsidies required in
the long run
8. Following Wind? UK Renewable Energy Generation
0
5000
10000
15000
20000
25000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Generationingigawatthours
Hydro (large scale) Hydro (small scale) Bioenergy Solar photovoltaics
Wind (onshore) Wind (offshore) Wave and tidal