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The Theory of Second Best and Third Best

In: Famous Figures and Diagrams in Economics

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  • Wai Chiu Woo

Abstract

This is a unique account of the role played by 58 figures and diagrams commonly used in economic theory. These cover a large part of mainstream economic analysis, both microeconomics and macroeconomics and also general equilibrium theory.

Suggested Citation

  • Wai Chiu Woo, 2010. "The Theory of Second Best and Third Best," Chapters, in: Mark Blaug & Peter Lloyd (ed.), Famous Figures and Diagrams in Economics, chapter 38, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:13310_38
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    References listed on IDEAS

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    1. M. McManus, 1959. "Comments on the General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 26(3), pages 209-224.
    2. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    3. Richard Lipsey, 2007. "Reflections on the general theory of second best at its golden jubilee," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 14(4), pages 349-364, August.
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