{'fraction_non_alphanumeric': 0.026993865030674847, 'fraction_numerical': 0.018404907975460124, 'mean_word_length': 4.551020408163265, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 1, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
A Review: The General Theory of Second Best: Lipsey and Lancaster - The Review of Economic Studies, Vol. 24, No. 1 (1956-1957), Pp. 11-32

The Theory of the Second Best concerns what happens when one or more optimality conditions are not satisfied in an economic model. Richard Lipsey and Kelvin Lancaster showed in this paper that if one optimality condition in an economic model is not satisfied, it is possible to have a next-best solution. In other words, given that one of the Paretian optimum conditions cannot be fulfilled, then an optimum situation can be achieved only by departing from all other Paretian conditions. The optimum solution thus attained is the second best solution. This is so because it is achieved subject to a constraint which prevented the initial attainment of Pareto optimal solution.