The Kaldor-Hicks Compensation Principle was given by British Economists Nicholas Kaldor And Noble laureate John Hicks. Both are famous for giving their contribution to economic concepts in the existing knowledge of literature.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
Since pollution is an externality firms will not undertake to control their pollution. The answer is in government regulations. Coase argues that in perfect competition with laissez faire, govt regulation is not needed. Instead bargaining between the polluters and their victims can lead to an optimal situation. But this pre supposes equality in bargaining, and does not take note of ecological consequences of pollution.
here in Keynesian theory of income and employment is explained in deep so all those people who want to get keenly into this theory must at least have a look at the same as it can improve your knowledge.
here in Keynesian theory of income and employment is explained in deep so all those people who want to get keenly into this theory must at least have a look at the same as it can improve your knowledge.
Pre conference workshop Economic Evaluations of Public Health Interventions
Amsterdam, EUPHA 2010
Public health economics was one of the themes of a pre conference at the 3rd European Public Health Conference in Amsterdam that took place from 10-13 November of 2010. Around 40 people participated at this pre conference. In four presentations the main topics in Public Health economics were introduced and illustrated. Economics is concerned with allocation of scarce resources in society over alternative uses. Some different types of evaluations were shown. The preference (utility) based health measure QALY (Quality Adjusted Life Years) was explained and discussed. In general methods for economic evaluations can be applied for evaluation of Public Health interventions. This was illustrated by a presentations on the economic impact of prevention strategies in tackling obesity. This study showed some good results in improving population health and decreasing health expenditure. However in many Public Health areas the effectiveness of public health interventions is still limited and should be assessed carefully concerning assumptions, costs calculated and models used.
More attention should be paid to inter-sectoral effects, equity considerations and a societal perspective in performing economic evaluations. Finally the involvement of relevant stakeholders is key to the success of Prevention.
The chair of this meeting concluded that Public Health and Economics could make a good couple. However for a longstanding relationship, we should put more effort in the evidence base of Public Health interventions. It is important that Public Health interventions demonstrate value for money!
Welfare effects of fiscal policy in reforming the pension systemGRAPE
Pension system reforms imply substantial redistribution between cohorts and within cohorts. They also implicitly affect the scope of risk sharing in societies. Linking pensions to individual incomes increases efficiency but reduces the insurance motive implicit in Beveridgean systems. The existing view in the literature argues that the insurance motive dominates the efficiency gains when evaluating the welfare effects. We show that this result is not universal: there exist ways to increase efficiency or compensate the loss of insurance, assuring welfare gains from pension system reform even in economies with uninsurable idiosyncratic income shocks. The fiscal closure, which necessarily accompanies the changes in the pension system, may boost efficiency and/or make up for lower insurance in the pension system. Indeed, fiscal closures inherently interact with the effects of pension system reform, counteracting or reinforcing the original effects. By analyzing a variety of fiscal closures, we reconcile our result with the earlier literature. We also study the political economy context and show that political support is feasible depending on the fiscal closure.
On December 10, 2012, Senior Research Fellow Dr Mark Harrison addressed an audience of more than twenty people on intergenerational equity of climate change analysis in the latest SMART Seminar.
Dr Harrison reviewed intergenerational equity and discount rates in climate change analysis and argued that proponents of a low rate of mitigation have a “strange view of ethical issues not shared by the general public.”
He argued that it would improve policy evaluation to use traditional cost benefit analysis techniques, simplifying the debates and separating empirical and ethical issues. Dr Harrison examined myths about discounting techniques in the climate change literature, including the need to appropriately adjust for risk to assess the value of different policies.
Dr Harrison said it was extremely valuable to weigh up the total costs and benefits of policies, and that many of the major assessments of climate change probability ignored possible changes in growth rates of both production and consumption, and population.
We analyze political stability of social security that involves pre-funding. We employ an overlapping generations model with intra-cohort heterogeneity and introduce partial funding, which is efficient in Kaldor-Hicks sense and has majority political support. Subsequently, agents vote on capturing the accumulated pension assets, and replacing it with the pay-as-you-go scheme. We show that even if capturing assets reduces welfare in the long run, the distribution of benefits across cohorts living at the time of voting yields always sufficient political support. We explain the mechanisms which yield this counter-intuitive result. Preventing the asset capture requires switching off the fiscal channel, i.e. funding becomes politically stable if capturing of the pension assets cannot be used to reduce taxation and/or public debt.
Efficiency versus insurance: Capital income taxation and privatizing social s...GRAPE
We study the interactions between capital income tax and social security privatization in the context of rising longevity. In an economy with idiosyncratic income shocks, redistributive defined benefit pay-as-you-go social security provides some insurance against income uncertainty. However, this redistribution makes social security contributions distortionary. Reforming such social security to (partially funded) defined contribution involves on the one hand loss of insurance, and on the other hand reduced distortions associated with contributions, and raised pension wealth. Furthermore, it necessitates fiscal adjustment: transition costs in the medium term and reduction in the overall taxation in the long term. The current view in the literature states that such reform would reduce welfare. We show that capital income taxation provides a superior alternative, especially in the case of longevity whereas compared to fiscal closures utilized in earlier studies attenuate them. We explain the mechanism behind this result and reconcile our results with the earlier literature.
Rapid Damage and Needs Assessment Report (RDNA), post-Cyclone Phailin in Odisha, was prepared in response to a request from the Department of Economic Affairs (DEA), Government of India (GoI). It was undertaken jointly by the Government of Odisha (GoO), the Asian Development Bank and the World Bank.
The RDNA team visited Bhubaneswar (Odisha) and the three most severely affected districts of Ganjam, Puri and Khordha, from November 26 to December 3 2013, and collaborated with the GoO to assess the damage and develop a recovery and restoration framework.
This report focuses on the Cost-Benefit Analysis which is effective tool and a rational technique for economic valuation where market information is either non-existent or deficient is.
‘Separation of sample components after their distribution between two phases.’’ - IUPAC definition
Ion Chromatography (IC) was introduced in 1975 by Small, Stevens and Baumann as a new analytical method for sensitive detection of ions via their electrical conductance. Chromatography is a separation technique that is used for separation a sample mixture into its constituents or components.
Paper Review of Local building materials: affordable strategy for housing the...Hrishikesh Satpute
The PowerPoint presentation is a review of a Journal Article "Local building materials: affordable strategy for housing the Urban poor in Nigeria."by Iwuagwu Ben Ugochukwua, Iwuagwu Ben Chioma Mb.
The paper examines the national housing need and housing provision, major constrain in delivery of low cost housing in Nigeria by recommending locally produced building materials and intermediate technology which can reduce construction cost by about 60%.
Minning Application and Remote Sensing Using Aster ImageryHrishikesh Satpute
CONTENTS
1. INTRODUCTION
2. MINING SCENARIO IN INDIA
3. ALL ABOUT ‘ASTER’
4. APPLICATIONS OF ASTER
5. REMOTE SENSING IN MINING
6. GIS FOR MINERAL EXPLORATION
7. CASE STUDIES & ANALYSIS
Analysed Parameters:
1.Condition Of Census House
2.Housing Structure
3.Ownership Status Of The House
4.Material of Roof and Wall
5.Number of Dwelling Rooms
6.Latrine Facility
7.Status of Housing
8.Housing Demand, Supply and Shortage
9.Obsolescence Factor
10.Homeless Factor
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The new type of smart, sustainable entrepreneurship and the next day | Europe...
The Kaldor Hicks Compensation Principle
1. MPEP1305: ENVIRONMENTAL ECONOMICS AND PROJECT APPRAISAL
HRISHIKESH SATPUTE (2019MEP012)
THE KALDOR-HICKS COMPENSATION PRINCIPLE
NICHOLAS KALDOR AND JOHN HICKS
3. BACKGROUND
The two approaches to address the inability of Pareto
criterion to handle mixed outcomes as:
a) Compensation Principle
b) Social Welfare Function
Economists like Kaldor, Hicks and Scitovsky have made
efforts to evaluate the changes in social welfare resulting
from any economic re-organisation which harms somebody
and benefits the others. These economists have sought to
remove indeterminacy in the analysis of Pareto optimality.
1. An individual himself is the best judge of his
satisfaction which is independent of the satisfaction of
others.
2. There is constancy of the tastes of the individuals.
3. There can be ordinal measurement of utility.
4. The inter-personal utilities comparisons are not
possible.
5. There is an absence of externalities in production and
consumption.
Assumptions:
John Hicks
(1904-1989)
Nicholas Kaldor
(1908-1986)
• Nicholas Kaldor and the noble laureate John Hicks have
given their tests for judging an increase in welfare.
• Like Pareto, they isolate the problem of production from
that of distribution.
• They deal with policy change with ambiguous welfare
effects saying that if the people benefiting from it can
gainfully compensate the losers, then the policy change is
desirable otherwise not.
• This extension is popularly called the compensation
principle based upon welfare criterion in 1939.
• The principle that underlies all the welfare criteria was
proposed by Kaldor, and the reverse test was proposed
by Hicks.
4. ▪ If a change in allocations or economic policy
makes A better off, without making B worse off,
then Social Welfare (SW) will increase if A can
compensate (hypothetically) B for his loss, and
still be better off, leading to the Pareto
improved outcome.
Example: If fishing is prohibited in a lake, but
swimming and boating are allowed, then fishermen
are worse off, but tourists are better off. Has
social welfare increased or decreased?
▪ If the latter pay compensation to the fishermen
for the loss of their income due to the new law,
then social welfare can remain constant.
Compensation Principle
CONCEPT
Kaldor Compensation Criterion
The project is desirable according to Kaldor
compensation criterion if gainers can compensate
losers in state B in such a way that everyone
becomes better off compared to state A.
▪ The possibility curve DE passes through points R,G and S. This means that by
mere distribution of income between the two individuals, that is if individual B
give some compensation to individual A for the loss suffered, they can
move from position T to at position R. It is evident from the figure that at
position R individual A is as well off as at the position Q.
▪ But individual B is still better off as compared to the position Q therefore,
social welfare increases with the movement from point Q to R.
Utility Possibility Curve
STATE A
GAINER
STATE B
LOSER
Compensation
▪ In the diagram the utilities
obtained by A and B from the
distribution of income are
represented by Q.
▪ Some change in economic policy,
the two individuals move from
point Q to T on DE, as result of this
movement from point Q to T cannot
be evaluated by the Pareto
criterion.
▪ Prof. hick has given his criterion from the loser’s point of view, whereas
Kaldor had formulated this criterion from the gainer’s point of view. Though
the two criteria are exposed differently, but they are really the same. Thus,
that is why the two criteria are generally called by a single name, ‘Kaldor-
Hicks Criterion’. (Nicholas Kaldor, 1939)
STATE B
CONSTANT
STATE A
CONSTANT
5. EXAMPLE
▪ Table 1 provides an illustration of a situation where
the Kaldor test has 2 superior to 1.
▪ In this, example, both individuals have utility functions
that are U = XY, and A is the winner for a move
from 1 to 2, while B loses from such a move.
EXPLAINATION
Allocation 1 Allocation 2
X Y U X Y U
A 10 5 50 20 5 100
B 5 20 100 5 10 50
Allocation 1 Allocation 2
X Y U X Y U
A 10 5 50 20 10 200
B 5 20 100 5 10 50
Allocation 1 Allocation 2
X Y U X Y U
A 10 5 50 10 4 40
B 5 20 100 15 16 240
Kaldor test:
▪ According to test, 2 is superior because at 2, A could restore B to
the level of utility that was enjoyed at 1 and still be better off than
at 1.
▪ Starting from Allocation 2, suppose that 5 units of X were shifted
from A to B. This would increase B's utility to 100, and reduce A's
utility to 75. B would be as well off as at 1 and A would still be
better off than at 1.
▪ Hence, the Allocation 2 must be superior to 1, as if such a re-
allocation were undertaken the benefits as assessed by the winner
would exceed the losses as assessed by the loser.
Hicks Test:
▪ In Table 1, suppose at Allocation 1 that 5 units of Y are
transferred from B, the loser from a move to 2, to A.
▪ A's utility would then go up to 100, the same as in Allocation 2,
while B's would go down to 75 , higher than in Allocation 2.
▪ The loser in a re-allocation from 1 to 2, could, that is, compensate
the individual who would benefit from such a move for it not
actually taking place, and still be better off than if the move had
taken place.
▪ On this Hicks test, Allocation 1 is superior to Allocation 2.
Table 1: Two Tests, Two Answers
Table 2: Two Tests, One Answers
Table 3: Compensation may not produce fairness
The Kaldor compensation test says that
allocation 2 is superior to allocation 1 if the winner
could compensate the loser and still be better off.
6. CRITICISM
▪ This criterion implicitly assumes that marginal utility of
money is the same for all the individuals in the society.
▪ It suggested potential compensation rather than actual
compensation. In case the potential compensation is not paid,
the welfare would be measured only in terms of utility and
that would require the inter personal comparisons of utility
and value judgements.
▪ It evaluates the gains and losses due to an economic change
in money terms, overlooking the real value of gains and
losses.
▪ It ignores the existing distribution of income of the
community. If the income distribution is unequal, the
compensation by the gainers (the rich) paid out to losers (the
poor) will fail to offset the loss on account of the differences
in the marginal utility of money in case of the rich and the
poor.
▪ This theory involves interpersonal comparison the welfare
economists wanted to avoid.
▪ This theory isolated the production and exchange from
distribution and this ignores distribution.
▪ Economic welfare could not be increased by a resource
reallocation unless the compensation is actually paid.
DISCUSSION AND CONCLUSION
▪ The compensation principle is stated in terms of potential
compensation rather than actual compensation
▪ If compensation were required, the compensation principle would
be equivalent to Pareto principle (consider example for Kaldor
compensation criterion)
▪ Considering the hypothetical compensation allows one to focus
on the efficiency aspects of the policy change
▪ In other words, a policy change is desirable according to the
compensation criterion if total revenue resulting from the policy
change exceeds total cost
▪ Through each Pareto improvement could be Kaldor-Hicks
improvement, but most of the Kaldor-Hicks improvements don’t
seem to be Pareto improvements.
▪ The Pareto improvements are a small part of Kaldor-Hicks
improvements; it also reflects the most flexibility and applicability
of the Kaldor-Hicks criterion.
▪ The Kaldor-Hicks methods are usually used as tests of Pareto
criterion instead of as efficiency goals themselves.
▪ They’re used to verify whether or not an activity is moving the
economy towards the Pareto criterion.
▪ Any change typically makes some individuals better off at the
same time making others worse off, so these tests ask what would
happen if the gainer were to compensate the losers.
CONCLUSIONS
7. REFERENCES
▪ Bossert, W. (1996). The Kaldor compensation test and rational choice. Journal of Public Economics, 59(2),
265–276. https://doi.org/10.1016/0047-2727(95)01497-7
▪ Price, C. M. (1939). Chapter 2 The Compensation Principle.
▪ Martin, S. (2019). The Kaldor–Hicks Potential Compensation Principle and the Constant Marginal Utility of
Income. Review of Industrial Organization, 55(3), 493–513. https://doi.org/10.1007/s11151-019-09716-
3
▪ Feldman, A. M. (2002). Kaldor-Hicks compensation. The New Palgrave Dictionary of Economics and the Law.
https://doi.org/10.1007/978-1-349-74173-1_203
▪ Kaldor, N. (1939). The Kaldor-Hicks Compensation Principle Assumptions : -, 1–4.
▪ Isa, S. S., Lima, O. F., & Fioravanti, R. D. (2020). The Kaldor-Hicks Criterion Applied to Economic Evaluation
of Urban Consolidation Centers. Transportation Research Procedia, 48(2019), 416–427.
https://doi.org/10.1016/j.trpro.2020.08.049