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Friday, August 27, 2010

Beware Efficiency

Here is another economist, UWE E. REINHARDT, on efficiency. The Kaldor-Hicks criterion he writes about is like the idea of a "pareto improvement" we discussed in class. We will specifically use the Kaldor-Hicks criterion as the normative basis for our discussion of benefit-cost analysis. Please add comments or questions after reading his short essay.

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