On Deriving Pricing Rules in the Theory of Second Best

John P. Walsh
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John P. Walsh: Gulf Oil Corporation

Public Finance Review, 1982, vol. 10, issue 4, 499-509

Abstract: The purpose of this article is to generalize the Lipsey-Lancaster "mixed economy" example in order to establish the second-best pricing rules exactly. We establish the required assumptions concerning the relationship between the monopoly and the competitive industry. We also establish a partial characterization of the second-best optimum. The general principles developed in the article can be applied to a number of other public sector problems .

Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:sae:pubfin:v:10:y:1982:i:4:p:499-509

DOI: 10.1177/109114218201000406

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