Publication: Journal of Economic Education
Volume: Volume 16, No. 4
Issue: Fall 1985
Pages: pp. 305-308
Author(s): Cecil Bohanon
Title: Externalities: A Note on Avoiding Confusion
Abstract: In distinguishing the difference between a genuine externality and a pecuniary externity, Bohanon observes that the latter never enters third-party utility (or production) functions, whereas this is always the case with technical externalities.