A FURTHER NOTE ON COMPENSATION PRINCIPLES

The Social Welfare Function and. theory of Compensation  Principles are sometimes treated as attempts  rehabilitate welfare economics and together are referred  to as New Welfare Economics. This was  necessary  because of wide criticism of Pavlovian and Partisan analyses. Pareto held that if any policy   hang  benefited some people without harming others, it will be assumed that social welfare has   increased. But in the era world the economic situations are not so unambiguous  that any policy change   at benefit some people without harming others Pareto appears to have  deliberately confined his analysis  o unambiguous  changes in order to avoid value judgement and inter personal utility comparisons alder Hicks and  Tsiolkovsky. introduced the theory of Compensation  Principles as a reformulated  criterion on Partisan foundations.  The theory of compensation principles states

A FURTHER NOTE ON COMPENSATION PRINCIPLES

A FURTHER NOTE ON COMPENSATION PRINCIPLES