Sentence examples for is first best from inspiring English sources
If collateral does not bear an opportunity cost, then the solution is first best.
A decision problem under incomplete information is first best implementable if there exists a mechanism that extracts the private information and achieves efficiency with a transfer scheme that adds up to zero in every state.
We show the optimality of such a voting procedure by arguing that it is first best, that is, it maximizes welfare when equilibrium constraints are ignored, and by showing that individual incentives and social welfare are sufficiently aligned to make a first best procedure incentive compatible.
Now everything in life is second best.
And Atlantis is second best.
Putting them to sleep is second best.
Yale's 2.07 goals allowed per game is third best.
For French brands, there is always a sneaking feeling that a second line is second best.
The Desouky and El-Emam (1990) model is second best with a ∆-value of 0.75.
Florida State is second best at 58-10.
