Kaldor–Hicks Efficiency

Kaldor–Hicks Efficiency, named for Nicholas Kaldor in addition to John Hicks, generally known as the Kaldor–Hicks qualifying measure, is a way of judging economic re-allocations associated with resources among folks that captures some of the intuitive appeal associated with Pareto improvements, but has a lesser amount of stringent criteria and is hence applicable to help more circumstances.