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Kaldor-Hicks improvement
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English
Kaldor–Hicks efficiency
Etymology
Named for Nicholas Kaldor and John Hicks.
Noun
en economics 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.
Related terms
en Kaldor-Hicks criterion
en Kaldor-Hicks efficiency
en Kaldor-Hicks efficient
en eponyms