According to a common opinion in economic literature, the National Income Test provides a necessary conditions for potential Pareto dominance. This paper demonstrates that this statement is true in pure-exchange economies, but, in general, false in production economies.
The Compensation Principle and the National Income Test
MONTESANO, ALDO MARIA
2007
Abstract
According to a common opinion in economic literature, the National Income Test provides a necessary conditions for potential Pareto dominance. This paper demonstrates that this statement is true in pure-exchange economies, but, in general, false in production economies.
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