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- Compensation_principle abstract "In welfare economics, the compensation principle refers to a decision rule used to select between pairs of alternative feasible social states. One of these states is the hypothetical point of departure ("the original state"). According to the compensation principle, if the prospective gainers could compensate (any) prospective losers and leave no one worse off, the alternate state is to be selected (Chipman, 1987, p. 524). An example of a compensation principle is the Pareto criterion in which a change in states entails that such compensation is not merely feasible but required. Two variants are: the Pareto principle, which requires any change such that all gain. the (strong) Pareto criterion, which requires any change such that at least one gains and no one loses from the change. In non-hypothetical contexts such that the compensation occurs (say in the marketplace), invoking the compensation principle is unnecessary to effect the change. But its use is more controversial and complex with some losers (where full compensation is feasible but not made) and in selecting among more than two feasible social states. In its specifics, it is also more controversial where the range of the decision rule itself is at issue.Uses for the compensation principle include: comparisons between the welfare properties of perfect competition and imperfect competition the Pareto principle in social choice theory cost–benefit analysis.".
- Compensation_principle wikiPageExternalLink 2008-10.pdf.
- Compensation_principle wikiPageExternalLink article?id=pde2008_C000260&q=compensation%20principle&topicid=&result_number=1.
- Compensation_principle wikiPageID "7665067".
- Compensation_principle wikiPageLength "2600".
- Compensation_principle wikiPageOutDegree "16".
- Compensation_principle wikiPageRevisionID "682360700".
- Compensation_principle wikiPageWikiLink Category:Welfare_economics.
- Compensation_principle wikiPageWikiLink Compensating_variation.
- Compensation_principle wikiPageWikiLink Cost–benefit_analysis.
- Compensation_principle wikiPageWikiLink Imperfect_competition.
- Compensation_principle wikiPageWikiLink Kaldor–Hicks_efficiency.
- Compensation_principle wikiPageWikiLink Pareto_efficiency.
- Compensation_principle wikiPageWikiLink Perfect_competition.
- Compensation_principle wikiPageWikiLink Social_Choice_and_Individual_Values.
- Compensation_principle wikiPageWikiLink Social_choice_theory.
- Compensation_principle wikiPageWikiLink The_New_Palgrave:_A_Dictionary_of_Economics.
- Compensation_principle wikiPageWikiLink The_New_Palgrave_Dictionary_of_Economics.
- Compensation_principle wikiPageWikiLink Welfare_economics.
- Compensation_principle wikiPageWikiLinkText "Compensation principle".
- Compensation_principle wikiPageWikiLinkText "compensation principle".
- Compensation_principle wikiPageWikiLinkText "compensations".
- Compensation_principle wikiPageWikiLinkText "hypothetically compensate".
- Compensation_principle wikiPageWikiLinkText "may require compensation".
- Compensation_principle hasPhotoCollection Compensation_principle.
- Compensation_principle subject Category:Welfare_economics.
- Compensation_principle type Microeconomic.
- Compensation_principle type Socioeconomic.
- Compensation_principle comment "In welfare economics, the compensation principle refers to a decision rule used to select between pairs of alternative feasible social states. One of these states is the hypothetical point of departure ("the original state"). According to the compensation principle, if the prospective gainers could compensate (any) prospective losers and leave no one worse off, the alternate state is to be selected (Chipman, 1987, p. 524).".
- Compensation_principle label "Compensation principle".
- Compensation_principle sameAs Kompensationsprincippet.
- Compensation_principle sameAs Principio_de_compensación.
- Compensation_principle sameAs Zasada_kompensaty.
- Compensation_principle sameAs m.02688mk.
- Compensation_principle sameAs Q5156269.
- Compensation_principle sameAs Q5156269.
- Compensation_principle wasDerivedFrom Compensation_principle?oldid=682360700.
- Compensation_principle isPrimaryTopicOf Compensation_principle.