Definition of externality in English:

externality

Line breaks: ex|ter¦nal|ity
Pronunciation: /ˌɛkstəːˈnalɪti
 
/

noun (plural externalities)

1 Economics A consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices, such as the pollination of surrounding crops by bees kept for honey.
More example sentences
  • The first is to address negative externalities that aren't reflected in market prices.
  • But ASI forgets that economic activity produces externalities; real costs to third parties.
  • Network externalities occur when markets characterized by network effects fail to allocate resources properly.
2 [mass noun] Philosophy The fact of existing outside the perceiving subject.
More example sentences
  • It is desire that opens up the moment of externality, or the reaching beyond the limits of the subject.
  • This fracturing of the sovereign self signals the demise of that spectacular and unique persona and the displacement of regal externality by what Francis Barker has called ‘an interior subjectivity.’
  • And there is a particular kind of negative externality.

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