IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/13310_38.html
   My bibliography  Save this book chapter

The Theory of Second Best and Third Best

In: Famous Figures and Diagrams in Economics

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/9781848441606.00051.xml
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yew-Kwang Ng, 2017. "Theory of Third Best: How to Interpret and Apply," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 178-188, May.
    2. Byrnes, Liam & Brown, Colin, 2015. "Australia’s renewable energy policy: the case for intervention," MPRA Paper 64977, University Library of Munich, Germany.
    3. Tulla Antoni F., 2019. "Sustainable Rural Development Requires Value-Added Activities Linked with Comparative Advantage: The Case of the Catalan Pyrenees," European Countryside, Sciendo, vol. 11(2), pages 229-256, June.
    4. David Wiens, 2016. "Assessing ideal theories," Politics, Philosophy & Economics, , vol. 15(2), pages 132-149, May.
    5. José Luis Iparraguirre, 2020. "Economics and Ageing," Springer Books, Springer, number 978-3-030-29019-1, June.
    6. M. Molinari, 2014. "A Second Best Theory of Institutional Quality," Public Organization Review, Springer, vol. 14(4), pages 545-559, December.
    7. Richard G. Lipsey, 2017. "Generality Versus Context Specificity: First, Second and Third Best in Theory and Policy," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 167-177, May.
    8. Richard G. Lipsey, 2012. "A critique of Ng's third-best theory," Discussion Papers dp12-02, Department of Economics, Simon Fraser University.
    9. Murat Arsel & Servaas Storm, 2015. "Forum 2015," Development and Change, International Institute of Social Studies, vol. 46(4), pages 666-699, July.
    10. Richard G. Lipsey, 2013. "Some contentious issues in theory and policy in memory of Mark Blaug," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 6, pages 31-62, Edward Elgar Publishing.
    11. Ugur, Mehmet, 2009. "Liberalisation in a world of second best: evidence on European network industries," Greenwich Papers in Political Economy 3983, University of Greenwich, Greenwich Political Economy Research Centre.
    12. Bauer, Johannes M., 2022. "Toward new guardrails for the information society," Telecommunications Policy, Elsevier, vol. 46(5).
    13. Wai Chiu Woo, 2017. "The Way We Teach Public Economics: A Rationalization Using the Theory of Third Best," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 229-248, May.
    14. Ovaere, Marten & Proost, Stef, 2022. "Cost-effective reduction of fossil energy use in the European transport sector: An assessment of the Fit for 55 Package," Energy Policy, Elsevier, vol. 168(C).
    15. Richard G. Lipsey & Yew-Kwang Ng, 2017. "Editors’ Introduction The two authors had tried alternative drafts to reach a consensus. While they had no problem in agreeing on Part II, the final version of Part I was mainly drafted by Lipsey, par," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 147-154, May.
    16. Richard G. Lipsey, 2017. "Economic Policy with and without Maximizing Rules," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 189-212, May.
    17. Misch, Florian & Gemmell, Norman & Kneller, Richard Anthony, 2011. "Fiscal policy and growth with complementarities and constraints on government," ZEW Discussion Papers 11-018, ZEW - Leibniz Centre for European Economic Research.
    18. Emmanuel Petrakis & Panagiotis Skartados, 2022. "Vertical Opportunism, Bargaining, and Share-Based Agreements," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 60(4), pages 549-565, June.
    19. Jonathan M. Lee, 2015. "The Impact of Heterogeneous NOx Regulations on Distributed Electricity Generation in U.S. Manufacturing," Working Papers 15-12, Center for Economic Studies, U.S. Census Bureau.
    20. Sergio Turner, 2004. "Pareto Improving Taxation in Incomplete Markets," Econometric Society 2004 Latin American Meetings 310, Econometric Society.

    More about this item

    Keywords

    Economics and Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:13310_38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.