Definition of "second best"

second best

adjective
comparative more second best, superlative most second best
1. Inferior to the best (but better than other alternatives).
2. (economics) Characterized by one or more optimality conditions not being satisfiable.
noun
plural second bests
1. Something (or someone) that is inferior to the best (but better than other alternatives).
  Quotations
  And so makeshift and second-best have continued.
  1956, Anthony Burgess, Time for a Tiger (The Malayan Trilogy), published 1972, page 38
  If I made you feel second best / Well I'm sorry I was blind
  1970, Johnny Christopher, Mark James, Wayne Carson (lyrics and music), “Always On My Mind”, performed by Brenda Lee
2. (economics) A situation where one or more optimality conditions cannot be satisfied.