Potential Pareto Improvement

Definitions

Economics

  • (written as potential Pareto improvement)
    A change that could become Pareto-improving if it were accompanied by suitable redistribution. A move to free trade, although it is likely to hurt some people if done alone, is beneficial under the Kaldor-Hicks criterion because it is a potential Pareto improvement. Also called a Kaldor improvement, a Kaldor-Hicks improvement, or a Hicks-Kaldor improvement.
  • abbreviationHicks-Kaldor improvement
    (written as Potential Pareto improvement)
  • abbreviationKaldor improvement
    (written as Potential Pareto improvement)
  • abbreviationKaldor-Hicks improvement
    (written as Potential Pareto improvement)
  • potential Pareto improvement
  • Potential Pareto improvement

Health Economics

  • Plainly if a state were Pareto inefficient it would seem to imply that there were potential improvements to be had.
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