Pareto's compensation principle
AbstractPareto is sometimes credited with an early formulation of the ill-fated Hicks or Kaldor principles of hypothetical compensation. The basis for this claim is Pareto's 1894 article "Il massimo di utilitÁ dato dalla libera concorrenza." However in that paper Pareto argued to the contrary, that in the formulation of economic policy compensation should be a consideration only if it is carried out. Our purpose is to document this claim.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 16 (1999)
Issue (Month): 3 ()
Note: Received: 2 October 1997/Accepted: 16 March 1998
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
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- Koichi Hamada & Shyam Sunder, 2005.
"Information Asymmetry and the Problem of Transfers in Trade Negotiations and International Agencies,"
910, Economic Growth Center, Yale University.
- Koichi Hamada & Shyam Sunder, 2005. "Information Asymmetry and the Problem of Transfers in Trade Negotiations and International Agencies," Yale School of Management Working Papers amz2360, Yale School of Management.
- John Chipman, 2006. "Pareto and contemporary economic theory," International Review of Economics, Springer, vol. 53(4), pages 451-475, December.
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