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Your search for "compensation principle" over the article keywords returned 7 results.

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1. Gorman, W.M. (Terence)

W.M. (Terence) Gorman was a theorist's theorist who nonetheless thought himself to be very practical. His contributions were brilliantly original – both ...

By Charles Blackorby, Daniel Primont and R. Robert Russell. From The New Palgrave Dictionary of Economics, Second Edition, 2008

2. Arrow's theorem

Any satisfactory method of making a social choice should be in some measure representative of the individual criteria which enter into ...

By Kenneth J. Arrow. From The New Palgrave Dictionary of Economics, Second Edition, 2008

3. justice (new perspectives)

This article provides a survey of recent normative work on justice. It shows how the concern for distributive equality has been questioned by the idea ...

By Bertil Tungodden. From The New Palgrave Dictionary of Economics, Second Edition, 2008

4. insurance mathematics

Insurance mathematics is concerned with the valuation of obligations arising from insurance contracts. At contract initiation, valuation is known as premium ...

By James C. Hickman and Edward W. Frees. From The New Palgrave Dictionary of Economics, Second Edition, 2008

5. social choice

This article is a critical survey of the literature of social choice theory, first formalized by Kenneth Arrow in 1951. Social choice theory deals with ...

By Amartya Sen. From The New Palgrave Dictionary of Economics, Second Edition, 2008

6. compensation principle

The compensation principle holds that one of two possible states constitutes an improvement over the other if the gainers could compensate the losers ...

By John S. Chipman. From The New Palgrave Dictionary of Economics, Second Edition, 2008

7. Pareto, Vilfredo (1848–1923)

Pareto made major contributions to a wide range of subjects covering mathematical economics, statistics, sociology and many others. In economics his name ...

By Alan Kirman. From The New Palgrave Dictionary of Economics, Second Edition, 2008