Pareto efficiency

Noun

Meaning

Pareto efficiency (uncountable)

Synonym of Pareto optimality

Examples

Constrained Pareto efficiency The condition of constrained Pareto optimality is a weaker version of the standard condition of Pareto optimality employed in economics which accounts for the fact that a potential planner (e. Source: Internet

Criticisms It would be invalid to treat Pareto efficiency as equivalent to social optimality, since the latter is a normative concept that is a matter of opinion but typically would take into account the degree of inequality of a distribution. Source: Internet

The consent takes the form of a compensation principle like Pareto efficiency for making a policy change and unanimity or at least no opposition as a point of departure for social choice. Source: Internet

Pareto efficiency does not require an equitable distribution of wealth. Source: Internet

The notion of Pareto efficiency is also useful in engineering. Source: Internet

This possibility is inherent in the definition of Pareto efficiency; often the status quo is Pareto efficient regardless of the degree to which wealth is equitably distributed. Source: Internet

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