Statements (20)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alsoKnownAs |
gptkb:theory_of_the_second_best
|
| gptkbp:appliesTo |
gptkb:legislation
taxation imperfect competition externalities market failures |
| gptkbp:citation |
microeconomics textbooks
|
| gptkbp:describes |
conditions under which the optimality of a system is affected by constraints
|
| gptkbp:field |
welfare economics
|
| gptkbp:formedBy |
gptkb:Richard_Lipsey
gptkb:Kelvin_Lancaster 1956 |
| https://www.w3.org/2000/01/rdf-schema#label |
Lipsey-Lancaster theorem
|
| gptkbp:influenced |
policy analysis
public economics |
| gptkbp:publishedIn |
gptkb:Review_of_Economic_Studies
|
| gptkbp:state |
if one optimality condition in an economic model cannot be satisfied, the next-best solution may require violating other optimality conditions
|
| gptkbp:bfsParent |
gptkb:Richard_Lipsey
|
| gptkbp:bfsLayer |
7
|