In defense of the Kaldor-Hicks criterion

被引：4

作者：

Mukoyama, Toshihiko ^{[1
]}

机构：

[1] Georgetown Univ, Dept Econ, 3700 O St NW, Washington, DC 20057 USA

来源：

ECONOMICS LETTERS | 2023年 / 224卷

关键词：

Kaldor-Hicks criterion; Cost-benefit analysis; Heterogeneous -agent macroeconomics; Redistribution; WELFARE PROPOSITIONS;

D O I：

10.1016/j.econlet.2023.111031

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper argues the Kaldor-Hicks criterion can be a sensible criterion for judging the policy benefit in a dynamic economy if the agents can trade state-contingent securities regarding a future policy change. When the probability of the policy change is very small, ex-ante security trades can increase everyone's consumption after the policy implementation when the Kaldor-Hicks criterion is met, even without an ex-post redistribution by the government.(c) 2023 Elsevier B.V. All rights reserved.

引用

页数：4

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