Explain the compensation criterion of Kaldor and Hicks. How do they justify income redistribution? Use different points

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Explain the compensation criterion of Kaldor and Hicks. How do they justify income redistribution? Use different points on Figure 2.5 to explain their conclusion.

Figure 2.5

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Public Finance A Contemporary Application Of Theory To Policy

ISBN: 9780538754460

10th Edition

Authors: David N Hyman

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Question Posted: Aug 15, 2023 02:39 PM

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Explain the compensation criterion of Kaldor and Hicks. How do they justify income redistribution? Use different points

Question:

A Utility-Possibility Curve Annual Well-Being of A UA UAZ- UAI 0 E₁ E₂ .Z E3 UB1 UB2 Annual Well-Being of B UB

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The compensation criteria of Kaldor and Hicks are economic concepts that assess the desirability of a policy change or economic move based on whether those who gain from the change could potentially c...View the full answer

Public Finance A Contemporary Application Of Theory To Policy

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