Construct · 1 fields · 1 citations

Kaldor-Hicks efficiency: a standalone construct

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Law and economics

a change counts as efficient if the winners gain enough that they could in principle compensate the losers, whether or not they actually do.

In law and economics, Kaldor-Hicks efficiency refers to a change counts as efficient if the winners gain enough that they could in principle compensate the losers, whether or not they actually do. This meaning comes from Kaldor (1939) in The Economic Journal.[1]

Unit
Recovery means
Measured by

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Nearby constructs

efficiency4 fields · 5 citationsjingle · one word, four constructs gain4 fields · 4 citationsjingle · one word, four constructs

References

Kaldor, N. (1939). Welfare Propositions of Economics and Interpersonal Comparisons of Utility. The Economic Journal, 49(195), 549. https://doi.org/10.2307/2224835

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