Abstract
Economic theory provides a textbook ideal for how to conduct efficiency analysis that determines optimal resource allocation. The real world is not, however, an ideal place. This article suggests that common sense should be allowed to temper zealous commitment to textbook ideals. The spirit and the process of economic evaluation may be as important as the "final answer" expressed as a summary statistic.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
