Berta, Nathalie - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
Despite its increasing role in the economic theory, the externality concept seems to evade any attempt for a rigorous and consensual definition, and this from Meade's original article to Arrow's work. An externality is soon seen as an unpriced "direct interaction" but some of its a priori...