Kaldor–Hicks efficiency, named for Nicholas Kaldor and John Hicks, also known as Kaldor–Hicks criterion, is a measure of economic efficiency that captures some of the intuitive appeal of Pareto efficiency, but has less stringent criteria and is hence applicable to more circumstances. Under Kaldor–Hicks efficiency, an outcome is more efficien...
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http://en.wikipedia.org/wiki/Kaldor–Hicks_efficiency
A state is said is to be Kaldor-Hicks efficient if there is no Kaldor-Hicks improvement from that state. This concept is claimed to provide an analytical basis for some forms of cost-benefit analysis of Government policies, programmes or projects. See Pareto improvements and Kaldor-Hicks efficiency criterion.
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https://www.encyclo.co.uk/local/20488
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