Advertisement

McManus on Second Best

  • K. Lancaster
  • R. G. Lipsey
Chapter

Abstract

Dr. McManus’s comments1 on our paper2 provide some valuable extensions to our original propositions, and his geometric treatment a useful alternative approach for those who prefer a technique of this kind. His chief point of criticism, that our ‘numeraire’ has not the degree of arbitrariness necessary for it to be so named, is well taken8 and our paper stands amended in that respect.

Copyright information

© Economic Study Society 1973

Authors and Affiliations

  • K. Lancaster
    • 1
  • R. G. Lipsey
    • 1
  1. 1.LondonUK

Personalised recommendations