During the 1950s and 1960s, many economists were convinced that externalities were a cause of "market failures … economist, James Buchanan, who systematically tried to show that externalities should not be viewed as a problem for market … market mechanisms and private arrangements in presence of externalities. By adopting an historical perspective, we are able …

externalities associated with energy use-global warming, local air pollution, and various side effects (e.g., congestion) from motor … vehicles. Techniques for (roughly) estimating the magnitude of these externalities, and corrective energy taxes, on a country …

-term externalities of binge drinking. We find that these externalities are on average $4.9 billion per year ($7 billion), about $80 for …

, or Pigouvian taxes effectively place the weight of externalities on the relevant decision makers. Yet, the available …

-term externalities of binge drinking. We find that these externalities are on average £4.9 billion per year ($7 billion), about £80 for …