Pareto efficiency
id:
pareto-efficiency-203-12022390
title:
Pareto efficiency
text:
In welfare economics, a Pareto improvement formalizes the idea of an outcome being "better in every possible way". A change is called a Pareto improvement if it leaves everyone in a society better-off. A situation is called Pareto efficient or Pareto optimal if all possible Pareto improvements have already been made; in other words, there are no longer any ways left to make one person better-off, without making some other person worse-off. In social choice theory, the same concept is sometimes c
brand slug:
wiki
category slug:
encyclopedia
description:
Weakly optimal allocation of resources
original url:
https://en.wikipedia.org/wiki/Pareto_efficiency
date created:
2002-03-22T15:16:58Z
date modified:
2024-09-09T17:06:31Z
main entity:
{"identifier":"Q36829","url":"https://www.wikidata.org/entity/Q36829"}
image:
fields total:
13
integrity:
15