Kaldor-Hicks improvement
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English[edit]
Etymology[edit]
Named for Nicholas Kaldor and John Hicks.
Noun[edit]
Kaldor-Hicks improvement (plural Kaldor-Hicks improvements)
- (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.