Theory of the second best

In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied. The economists Richard Lipsey and Kelvin Lancaster showed in 1956, that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal. Politically, the theory implies that if it is infeasible to remove a particular market distortion, introducing a second (or more) market distortion may partially counteract the first, and lead to a more efficient outcome.

Implications

In an economy with some uncorrectable market failure in one sector, actions to correct market failures in another related sector with the intent of increasing economic efficiency may actually decrease overall economic efficiency. In theory, at least, it may be better to let two market imperfections cancel each other out rather than making an effort to fix either one. Thus, it may be optimal for the government to intervene in a way that is contrary to usual policy. This suggests that economists need to study the details of the situation before jumping to the theory-based conclusion that an improvement in market perfection in one area implies a global improvement in efficiency.

Marina

A marina (from Spanish [maˈɾina], Portuguese [maˈɾinɐ] and Italian [maˈriːna]: marina, "coast" or "shore") is a dock or basin with moorings and supplies for yachts and small boats. A marina differs from a port in that a marina does not handle large passenger ships or cargo from freighters.

The word marina is also used for inland wharves on rivers and canals that are used exclusively by non-industrial pleasure craft such as canal narrowboats.

Emplacement

Marinas may be located along the banks of rivers connecting to lakes or seas and may be inland. They are also located on coastal harbors (natural or man made) or coastal lagoons, either as stand alone facilities or within a port complex.

Facilities and services

A marina may have refueling, washing and repair facilities, marine and boat chandlers, stores and restaurants. A marina may include ground facilities such as parking lots for vehicles and boat trailers. Slipways (or boat ramps) transfer a trailered boat into the water. A marina may have a boat hoist well (a traveling crane) operated by service personnel. A marina may provide in- or out-of-water boat storage.

Album

Albums of recorded music were developed in the early 20th century, first as books of individual 78rpm records, then from 1948 as vinyl LP records played at 33 ¹⁄₃ rpm. Vinyl LPs are still issued, though in the 21st century albums sales have mostly focused on compact disc (CD) and MP3 formats. The audio cassette was a format used in the late 1970s through to the 1990s alongside vinyl.

An album may be recorded in a recording studio (fixed or mobile), in a concert venue, at home, in the field, or a mix of places. Recording may take a few hours to several years to complete, usually in several takes with different parts recorded separately, and then brought or "mixed" together. Recordings that are done in one take without overdubbing are termed "live", even when done in a studio. Studios are built to absorb sound, eliminating reverberation, so as to assist in mixing different takes; other locations, such as concert venues and some "live rooms", allow for reverberation, which creates a "live" sound. The majority of studio recordings contain an abundance of editing, sound effects, voice adjustments, etc. With modern recording technology, musicians can be recorded in separate rooms or at separate times while listening to the other parts using headphones; with each part recorded as a separate track.

Marina Foïs

Marina Sylvie Foïs (born 21 January 1970) is a French actress.

Biography

Born in Boulogne-Billancourt in the department of Hauts-de-Seine in a family from Russian, Jewish Egyptian, German and Italian ancestry, Marina Foïs discovered in 1986 her passion for comedy in The School for Wives, at the age of sixteen. She decided to follow classes by correspondence and obtained her high school final exam two years later. She then joined the troop The Royal Imperial Green Rabbit Company, which later became Les Robins des Bois, composed of students from the Cours Florent from the class of Isabelle Nanty.

Noticed by Dominique Farrugia in 1996, Marina Foïs and the troop had the opportunity to play daily and in direct on the channel Comédie+ in the program La Grosse Émission for two years. During that period, she co-wrote sketches with Pierre-François Martin-Laval, playing a number of various characters, like Sophie Pétoncule, of an astounding stupidity, or the director Marie-Mûre, pedantic and bossy. They continued the next year on Canal+ and had a bigger audience. Since June 2001, Marina and the troop separated to focus on their film career. Marina Foïs became one of the most productives actresses playing in almost three films a year.

Laurent Lafitte

Laurent Lafitte (born 22 August 1973) is a French actor. He is known for playing the role of Antoine in Little White Lies.

Selected filmography

References

External links