utterly improbable. It's the *Theorem* of the second best; viz it is logically implied by its assumptions. Someone might have shown that one or other of its assumptions were unrealistic but this is hardly a criticism to which standard neoclassical economics are immune.
best dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Michael Perelman Sent: 18 November 2005 23:44 To: [email protected] Subject: theory of the second best One of my students told me that he read that someone disproved the theory of the 2d best. Has anybody heard of such a proof? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
