Journal Article Welfare Economics and the Theory of Second Best Get access Otto A. Davis, Otto A. Davis Carnegie Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar Andrew B. Whinston Andrew B. Whinston University of Virginia Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 32, Issue 1, January 1965, Pages 1–14, https://doi.org/10.2307/2296327 Published: 01 January 1965