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Why Do Decision Makers Tend to Ignore External Costs? How

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Why do decision makers tend to ignore external costs? How can internalizing external costs move us closer to efficient levels of output?


Definitions:

Worldviews

The fundamental cognitive orientation of an individual or society encompassing the whole of the individual's or society's knowledge and point of view.

Italy

A European country known for its rich history, culture, and contributions to art, science, fashion, and cuisine.

Co-Culture

A microculture; a distinct culture within a larger culture.

Social Class

A system of dividing society into different levels based on economic, professional, or educational status.

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