lesternalità

Lesternalità refers to the study of external effects or externalities. In economics, an externality occurs when the production or consumption of a good or service affects a third party who is not directly involved in the transaction. These effects can be either positive or negative.

A positive externality is a benefit that is experienced by a third party. For example, when a homeowner plants a beautiful garden, neighbors may enjoy the aesthetic appeal, which is a positive externality. Education is another common example, as a more educated populace can lead to greater innovation and societal benefits.

A negative externality is a cost that is imposed on a third party. Pollution from a factory is a classic example of a negative externality, as it harms the health and environment of nearby residents. Noise from construction or loud music can also be considered negative externalities.

The existence of externalities often leads to market failure, meaning that the market outcome is not economically efficient. This is because the prices of goods and services do not reflect their true social costs or benefits. Governments often intervene to address externalities through policies such as taxes on negative externalities (e.g., carbon taxes) or subsidies for positive externalities (e.g., subsidies for education or vaccinations). The goal of these interventions is to internalize the externality, bringing the private costs or benefits closer to the social costs or benefits.