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What is Externalities

Latin American Women and Research Contributions to the IT Field
The externalities concept corresponds to the cost that affects a third party who did not pay for this benefit. For example, in the case of railway transportation, externalities occur when the consumption of a transportation service private price equilibrium cannot reflect real costs for the general society. Types of railway externalities can include social, economic, environmental, and energy. Externalities can be either positive or negative.
Published in Chapter:
Railway Engineering: Timetable Planning and Control, Artificial Intelligence and Externalities
Aranzazu Berbey Alvarez (Universidad Tecnológica de Panamá, Panama) and Jessica Guevara-Cedeño (Universidad Tecnológica de Panamá, Panama)
Copyright: © 2021 |Pages: 25
DOI: 10.4018/978-1-7998-7552-9.ch017
Abstract
This chapter is a case study of the dissemination of railway engineering research in Latin America developed by a railway engineering research group. The leader of the group is a female researcher. The authors aim to inspire to other women researchers in Latin American and Caribbean (LAC) countries who are trying to develop research in IT areas, many times facing serious difficulties, incomprehension, and great challenges. This chapter is divided in set sections like introduction, background, development of railway engineering research. This third section is divided into subsections like timetable planning and trains control, characterization of Panama metro line 1, dwelling times, fuzzy logic, artificial intelligence, social-economics railway externalities, and environmental railway externalities. The fourth section presents the results of the relationship between research activity and teaching of railway engineering obtained in this case study. Finally, the authors present a brief vision about future and emerging regional trends about railway engineering projects.
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The positive or negative effect (social costs or social benefits) arising from the production or consumption activity of a producer or consumer.
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Factors whose benefits and costs are not reflected in the market price of goods and services.
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An externality is a positive or negative consequence of an economic activity experienced by unrelated third parties.
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The positive or negative effect (social costs or social benefits) arising from the production or consumption activity of a producer or consumer
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Green Currency Based on Blockchain Technology for Sustainable Development
A cost or benefit arising from any activity which does not accrual to the person or organization directly involved but extends to a third party outside the market. Externalities are positive or negative. Environment degradation creates negative externality as it generates costs to the third party. The environment is a public common good so those who are responsible for the damage need not pay for the damage as property rights are not well defined.
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