Introductory-level economics uses supply and demand curves to identify the "ideal" price for a product, service or other economic activity. In Econ 101, these curves assume that the economy is working ...

CONSUMPTION, production, and investment decisions of individuals, households, and firms often affect people not directly involved in the transactions. Sometimes these indirect effects are tiny. But ...

Externalities are the incidental effects that the activities or actions of one party have on another party. Positive externalities occur when the actions of a person or entity have a positive impact ...

Mark Bittman has a piece in the New York Times where he analyzes the "true cost" of hamburgers. There are some things right with the piece and some things wrong. In general, thinking about the costs ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...

I develop a model of firm-to-firm search and matching to show that the impact of falling trade costs on firm sourcing decisions and consumer welfare depends on the relative size of search ...

The urgency to address corporate externalities—environmental, social, and health-related spill‑over costs—is intensifying. Hidden costs from pollution, resource depletion, and poor labor practices ...