Describe would the hicks-kaldor criterion be useful

Reference no: EM13208797

Brian Equator owns a large livestock in the northwest region of Freedonia. In fact, he has operated this livestock operation for over 20 years. in the past, his farm was fairly isolated. however more recently the nearest city, woodpile, has been expanding. thus, there are now residential homes fairly close to Brain's farm. a local academic, Samuel Brainsample, he stated, "the pareto criterion cannot be used in this case to determine an appropriate policy solution." is he right? briefly explain. would the hicks-kaldor criterion be useful? briefly explain.

Reference no: EM13208797

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