Construct · 1 fields · 1 citations

nonconvexities in externalities: a standalone construct

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Environmental economics

result that harmful externalities make production sets nonconvex, so markets for externality rights may have no competitive equilibrium.

In environmental economics, nonconvexities in externalities refers to result that harmful externalities make production sets nonconvex, so markets for externality rights may have no competitive equilibrium. This meaning comes from Starrett (1972) in Journal of Economic Theory.[1]

Unit
Recovery means
Measured by

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Nearby constructs

equilibrium4 fields · 4 citationsjingle · one word, four constructs externality3 fields · 5 citationsjingle · one word, three constructs

References

Starrett, D. A. (1972). Fundamental nonconvexities in the theory of externalities. Journal of Economic Theory, 4(2), 180-199. https://doi.org/10.1016/0022-0531(72)90148-2

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