Definition of externality in English:
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.
- 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.
- 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.
Definition of externality in:
- US English dictionary
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