On a Fallacy in the Kaldor-Hicks Efficiency-Equity Analysis

Constitutional Political Economy 25 (2):125-136 (2014)
Download Edit this record How to cite View on PhilPapers
Abstract
This paper shows that implicit assumptions about the numeraire good in the Kaldor-Hicks efficiency-equity analysis involve a "same-yardstick" fallacy (a fallacy pointed out by Paul Samuelson in another context). These results have negative implications for cost-benefit analysis, the wealth-maximization approach to law and economics, and other parts of applied welfare economics--as well as for the whole vision of economics based on the "production and distribution of social wealth."
PhilPapers/Archive ID
ELLOAF
Upload history
First archival date: 2014-10-16
Latest version: 2 (2014-10-18)
View other versions
Added to PP index
2014-10-16

Total views
353 ( #12,791 of 51,415 )

Recent downloads (6 months)
39 ( #14,653 of 51,415 )

How can I increase my downloads?

Downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.