Quarterly Journal of Austrian Economics
Author:
Edward Stringham
Online Publish Date:
Volume 4, No. 2 (Summer 2001) Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations. Although it may appear convenient to be able to judge policies using such an efficiency standard, I will argue that no such measures can be constructed . Contrary to Caplan who