Second Best and Monopoly: A Cautionary Tale
The theory of second best, as originally conceived by Meade (1955) and popularized by Lipsey and Lancaster (1956), has been a much discussed topic for quite some time now. Second best rules have been devised for a number of situations, but very little has been done in terms of trying to get a feel f...
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| Veröffentlicht in: | Public choice 1981-01, Vol.37 (2), p.275-285 |
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| container_end_page | 285 |
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| container_title | Public choice |
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| creator | Morrison, Clarence C. |
| description | The theory of second best, as originally conceived by Meade (1955) and popularized by Lipsey and Lancaster (1956), has been a much discussed topic for quite some time now. Second best rules have been devised for a number of situations, but very little has been done in terms of trying to get a feel for the magnitudes that may be involved. This paper intends to make a crude and tentative first step in this direction in the interest of making a similarly crude and tentative evaluation of the policy measures that the theory of second best might suggest. |
| doi_str_mv | 10.1007/BF00138247 |
| format | Article |
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| identifier | ISSN: 0048-5829 |
| ispartof | Public choice, 1981-01, Vol.37 (2), p.275-285 |
| issn | 0048-5829 1573-7101 |
| language | eng |
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| source | Business Source Complete; Jstor Complete Legacy; Springer Nature - Complete Springer Journals; Political Science Complete |
| subjects | Competition Consumption Endowment Endowments Financial services industries Government Industrial policy Industrial production Industry Marginal costs Marginal products Monopoly Nationalization Pricing policies Production functions Profits Utility functions Wage rates |
| title | Second Best and Monopoly: A Cautionary Tale |
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