Which theory was presented by Hicks calder and scitovsky
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"The compensation principle" is your answer
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Answer:
The compensation principle theory was presented by Hicks calder and scitovsky.
Explanation:
The compensation principle as developed by Kaldor, Hicks and Scitovsky. It was a much discussed topic in welfare economics since 1939.
Prof. Kaldor was the first to give a criterion to judge the changes in social welfare when an economic change benefits some people and harms the others.
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