'Papandreou's efforts to clarify the various meanings given to the externality concept, and his emphasis throughout on the centrality of issues of institutions are of great value, and will be of significant aid to those seeking to further advance the discussion.' Malcolm Rutherford, Journal of Economic Literature '[any] reader interested in externality theory, institutional analysis, or public policy will profit from reading this book' E. C. Pasour, Jr., American Journal of Agricultural Economics