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A Pigouvian tax (also spelled Pigovian tax) is a tax on any market activity that generates negative externalities (i.e., external costs incurred by third parties that are not included in the market price). A Pigouvian tax is a method that tries to internalize negative externalities to achieve the Nash equilibrium and optimal Pareto efficiency. [1]
Arthur Cecil Pigou (/ ˈ p iː ɡ uː /; 18 November 1877 – 7 March 1959) was an English economist. As a teacher and builder of the School of Economics at the University of Cambridge , he trained and influenced many Cambridge economists who went on to take chairs of economics around the world.
A Pigovian tax (also called Pigouvian tax, after economist Arthur C. Pigou) is a tax imposed that is equal in value to the negative externality. In order to fully correct the negative externality, the per unit tax should equal the marginal external cost. [ 56 ]
Related efforts to achieve socially optimal quantities of externalities have long been a focus of microeconomic research, most famously by Ronald Coase [1] and Arthur Pigou. [2] Externality problems persist despite past remedies, which makes newer approaches such as the efficient voter rule important.
YouTube has a pattern of recommending right-leaning and Christian videos, even to users who haven’t previously interacted with that kind of content, according to a recent study of the platform ...
YouTube’s algorithm frequently recommends right-leaning and Christian videos to users who have not previously shown interest in those topics, according to new research released Tuesday. The ...
Influential theories have been the ability theory presented by Arthur Cecil Pigou [2] and the benefit theory developed by Erik Lindahl. [ 3 ] [ 4 ] There is a later version of the benefit theory known as the "voluntary exchange" theory .
Pigou, A.C. "Divergences Between Marginal Social Net Product and Marginal Private Net Product" in The Economics of Welfare, A.C. Pigou (1932) Ramsey, Frank P. "A Contribution to the Theory of Taxation" in Classics in the Theory of Public Finance, ed. R.A. Musgrave and A.T. Peacock (1958) Stigler, George J. and Paul A. Samuelson, 1963. "A ...