Simandan, Radu - In: Theoretical and Applied Economics 7(502) (2006) 7(502), pp. 97-100
An externality exists whenever a transaction creates a cost or a benefit for a party not directly involved. Pollution …-classicals are concerned about efficiency and they propose some forms of government intervention in order to alleviate pollution …: taxes and tradable permits. Austrians seek to remove interpersonal conflict related to pollution and show that although …