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externality

[ek-ster-nal-i-tee] /ˌɛk stərˈnæl ɪ ti/
noun, plural externalities.
1.
the state or quality of being external.
2.
something external; an outward feature.
3.
excessive attention to externals.
4.
an external effect, often unforeseen or unintended, accompanying a process or activity:
to eliminate externalities such as air pollution through government regulation.
Origin
1665-1675
1665-75; external + -ity
Related forms
nonexternality, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for externality
  • It is perhaps the strongest instance of his externality.
  • Well, guess what, our society has accepted that externality in our transportation system.
  • externality costs for coal are a large undefined risk.
  • The authors also note the potential for a positive externality.
  • More important, junk food is not itself the source of the externality-the medical costs that arise from obesity.
  • To me, fairness would suggest taxing behaviour that poses a negative externality to everyone else.
  • These calculations miss a key externality: technology transfer.
  • Environmental regulation has been necessary to achieve this, to be sure, because pollution is indeed an externality.
  • Maintaining a house is expensive and an abandoned home imposes a negative externality on its neighbours.
  • Another way to look at this may be that the good or service has a positive externality.
British Dictionary definitions for externality

externality

/ˌɛkstɜːˈnælɪtɪ/
noun (pl) -ties
1.
the state or condition of being external
2.
something external
3.
(philosophy) the quality of existing independently of a perceiving mind
4.
an economic effect that results from an economic choice but is not reflected in market prices
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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