The Scitovsky paradox is a paradox in welfare economics which is resolved by stating that there is no increase in social welfare by a return to the original part of the losers. It is named after the Hungarian born American economist, Tibor Scitovsky.
The Scitovsky paradox is a paradox in welfare economics which is resolved by stating that there is no increase in social welfare by a return to the original part of the losers. It is named after the Hungarian born American economist, Tibor Scitovsky.
Source: Wikipedia "Scitovsky paradox" · CC BY-SA 4.0
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