English Explanatory Dictionary

Kaldor-Hicks improvement

English dictionary entry

Meanings

noun
  1. An economic reallocation of resources among people, such that those who are made better off could hypothetically compensate those who are made worse off and lead to a Pareto-improving outcome.

Word forms

Kaldor-Hicks improvement Kaldor-Hicks improvements

Etymology

Named for Nicholas Kaldor and John Hicks.

Related words

Kaldor-Hicks criterion Kaldor-Hicks efficiency Kaldor-Hicks efficient
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