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Second best |
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Second bestRefers to what is the optimal policy when the true optimum (the first best) is unavailable due to constraints on policy choice. The Theory of Second Best says that a policy that would be optimal without such constraints (such as a zero tariff in a small country) may not be second-best optimal if other policies are constrained. See Lipsey and Lancaster (1956).Similar MatchesSecond pass regressionSecond pass regressionA cross-sectional regression of portfolio returns on betas. The estimated slope is the measurement of the reward for bearing systematic risk during the period analyzed. Second theorem of welfare economicsSecond theorem of welfare economicsThe proposition of welfare economics that any Pareto optimal allocation can be attained by a competitive general equilibrium. Second to die insuranceSecond to die insuranceInsurance policy that, on the death of the spouse dying last, pays a death benefit to the heirs that is designed to cover estate taxes. Second MortgageSecond MortgageA mortgage which ranks after a first mortgage in priority. Properties may have two, three, or more Mortgages, deeds of trust, or land contracts, as liens at the same time. Legal priority would determine whether they are called a first, second, third, etc. lien. Second hand endowmentSecond hand endowmentSee: 'traded endowment policy'. Further SuggestionsSecondary OfferingSecondary issue Registered secondary offering Secondary Financing Second round Secondary tariffs Secondary mortgage market State Second Pension secondary market Spot secondary Second market Second mortgage lending Theory of second best Secondary Mortgage Market Secondary market Second-best argument for protection Second preferred stock second mortgage Forfaiter (Secondary) Secondary distribution or offering |
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