School of Economics | Hicks and Scitovsky

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08 Jan Compensation Principle of Kaldor, Hicks and Scitovsky

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Article Shared by In this article we will discuss about compensation principle of Kaldor, Hicks and Scitovsky. Kaldor, Hicks and Scitovsky have given their tests for judging an increasing in welfare. Like Pareto, they isolate the problem of production from that of distribution. They deal with policy...