Concepedia

Second-best Theory

Second-Best Theory is a welfare economics principle that identifies the optimal policy outcome when Pareto efficiency cannot be achieved due to constraints preventing the fulfillment of one or more ideal market conditions, thereby requiring deviations from first-best allocations to maximize social welfare under second-best constraints.

106

Publications

8.4K

Citations

150

Authors

111

Institutions

Publications per year

2017–2026

6

Variants

Theory Of The Second Best

Parents

Publications

106

The General Theory of Second Best

Richard G. Lipsey, Kelvin Lancaster · The Review of Economic Studies · 1956 · 2K citations

, , +15

On Second-Best National Saving and Game-Equilibrium Growth

Edmund S. Phelps, Robert A. Pollak · The Review of Economic Studies · 1968 · 1.5K citations

, , +11

When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets

Ian Parry, Roberton C. Williams, Lawrence H. Goulder · Journal of Environmental Economics and Management · 1999 · 435 citations

, , +15

Cash versus Kind, Self-selection, and Efficient Transfers

Charles Blackorby, David Donaldson · American Economic Review · 1988 · 328 citations

, , +17

Second-best theory and the use of multiple policy instruments

Lori S. Bennear, Robert N. Stavins · Environmental and Resource Economics · 2007 · 317 citations

, , +11

1–5 of 106

Authors

150

  1. IP
    Ian Parry

    Resources For The Future, United States

    3 publications · 586 citations

    3

    h-index

  2. HC
    Huigang Chen

    Federal Reserve Bank of St. Louis, United States

    3 publications · 42 citations

    3

    h-index

  3. AR
    Alessandro Rebucci

    Johns Hopkins University, United States

    3 publications · 42 citations

    3

    h-index

  4. LH
    Lawrence H. Goulder

    Stanford University, United States

    3 publications · 586 citations

    3

    h-index

  5. RC
    Roberton C. Williams

    Resources For The Future, United States

    3 publications · 586 citations

    3

    h-index

1–5 of 150

Institutions

111

  1. University of Virginia

    Charlottesville, United States

    5 h-index

    10 publications

    390 citations

  2. Harvard University

    Cambridge, United States

    5 h-index

    5 publications

    473 citations

  3. London School of Economics and Political Science

    London, United Kingdom

    4 h-index

    8 publications

    131 citations

  4. Harvard University Press

    Cambridge, United States

    3 h-index

    3 publications

    40 citations

  5. Federal Reserve Bank of St. Louis

    St Louis, United States

    3 h-index

    7 publications

    90 citations

  6. Stanford University

    Stanford, United States

    3 h-index

    4 publications

    957 citations

  7. National Bureau of Economic Research

    Cambridge, United States

    3 h-index

    4 publications

    184 citations

  8. Centre for Economic Policy Research

    London, United Kingdom

    3 h-index

    2 publications

    30 citations

1–8 of 111

Venues

  1. The Review of Economic Studies

    15 publications · 4.4K citations

    14

    h-index

  2. SSRN Electronic Journal

    Repository · 5 publications · 134 citations

    5

    h-index

  3. Journal of Public Economics

    5 publications · 168 citations

    5

    h-index

  4. The Quarterly Journal of Economics

    QJE · 3 publications · 44 citations

    3

    h-index

  5. Journal of Economic Theory

    JET · 3 publications · 53 citations

    3

    h-index

1–5