Saturday, June 11, 2011
USF research
Externalities are the external cost from the producer or buyer cost that is paid or received by an outside party. Externalities can be positive or negative. There are two types of positive externalities network and knowledge spill over externalities. The majority of knowledge spill over comes for college and university studies that are sponsored by the government. USF a local university has mad many advances and studies that have been beneficial to society as a whole. For example, USF has and extensive oceanography program that receives funding from government. After the oil spill, several test were done by USF to attempt to determine the effect of the oil. USF is also trying to develop more accurate systems to predict where and how oil will spread. Currently, USF oceanography department is working on creating a 4-D remote sensing system that would incorporate satellite imagery to help not only determined oil directions but hurricane and incursion. The development of this product would be beneficial to society as a whole. USF has received a grant of 400,000 to investigate the damage to fish from the oil spill
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As we learned there are negative and positive externalities in society. I think you example is a good one to express a spill over. Because USF wants to broaden thier studies on oil spills and are planning on creating this sensing system it will benefit society. It will benefit the society because the information that they find will be shared. In that case maybe society will be more prepared and know what to expect and maybe even how to fix problems that occur in oil spills and be more aware of the effects on the ocean life and ocean its self.
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