I have to chosen two following 2 Internet articles from below?one article should discuss a positive externality, and one should discuss a negative externality. Now I need help listing the characteristics of the positive and negative externalities
Positive Externality(characteristics) Negative Externality(characteristics)
1) Intra-project externality and layout variables in residential condominium appraisals
by Chan, Su Han, Chu, Shin-Hering Michelle, Lentz, George H, Wang, Ko
Examine the effects of both negative and positive externalities on the sales of condominiums. Several factors such as parks and pools can be both negative and positive, depending on the predilections of the buyer. Greenspace is always a positive externality. The effects of these factors are not used as they should be, and as a result many condos are over or under appraised in value.
2) Externalities and labor market linkages in a dynamic two-sector model of tropical agriculture by GERALD E. SHIVELY
Examines the negative externality of erosion from an upland farm affecting a lowland farm. A model is developed to determine the extent of the externality. The model indicates the attempts to fairly distribute the effects of the externality increase efficiency.
Also could someone please explain to me very well
1) How has the positive externality affected the economy?
2) How has the negative externality affected the economy?
1. People are willing to sell condos for less than they should be because of high information cost (it is hard to know if a particular feature of a condo is good or bad)
2. Many of the things in question are nonexcludable - e.g. the recreation areas are open for everyone to use.
3. Many of the things in question are nonrival-e.g. viewing a pleasant scene by one person doesn't prevent others from gaining full benefit from it
1. People are ...
Examine the effects of both negative and positive externalities on the sales of condominiums.