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- Pareto_efficiency abstract "Pareto efficiency, or Pareto optimality, is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off. The term is named after Vilfredo Pareto (1848–1923), an Italian economist who used the concept in his studies of economic efficiency and income distribution.[citation needed] The concept has applications in academic fields such as economics and engineering.Given an initial allocation of goods among a set of individuals, a change to a different allocation that makes at least one individual better off without making any other individual worse off is called a Pareto improvement. An allocation is defined as "Pareto efficient" or "Pareto optimal" when no further Pareto improvements can be made.For example, suppose there are two consumers A & B and only one resource X. Suppose X is equal to 20. Let us assume that the resource has to be distributed equally between A and B and thus can be distributed in the following way: (1,1), (2,2), (3,3), (4,4), (5,5), (6,6), (7,7), (8,8), (9,9) and (10,10), which represent Pareto improvements. At point (10,10) all resources have been exhausted: no further distribution is possible—if redistribution continues, it will lead to a position (11,9) or (9,11) that makes one better off and the other worse off. Hence, point (10,10) is Pareto optimal; no further Pareto improvements can be made.Pareto efficiency is a minimal notion of efficiency and does not necessarily result in a socially desirable distribution of resources: it makes no statement about equality, or the overall well-being of a society. The notion of Pareto efficiency can also be applied to the selection of alternatives in engineering and similar fields. Each option is first assessed under multiple criteria and then a subset of options is identified with the property that no other option can categorically outperform any of its members.".
- Pareto_efficiency thumbnail PareoEfficientFrontier1024x1024.png?width=300.
- Pareto_efficiency wikiPageExternalLink books?id=pFPHKwXro3QC&pg=PA18.
- Pareto_efficiency wikiPageExternalLink books?id=5ntdaYX4LPkC&pg=PA6.
- Pareto_efficiency wikiPageExternalLink 95848335.
- Pareto_efficiency wikiPageID "45468".
- Pareto_efficiency wikiPageRevisionID "606206003".
- Pareto_efficiency hasPhotoCollection Pareto_efficiency.
- Pareto_efficiency subject Category:Economic_efficiency.
- Pareto_efficiency subject Category:Game_theory.
- Pareto_efficiency subject Category:Law_and_economics.
- Pareto_efficiency subject Category:Mathematical_optimization.
- Pareto_efficiency subject Category:Voting_system_criteria.
- Pareto_efficiency subject Category:Welfare_economics.
- Pareto_efficiency type Abstraction100002137.
- Pareto_efficiency type Measure100033615.
- Pareto_efficiency type Standard107260623.
- Pareto_efficiency type SystemOfMeasurement113577171.
- Pareto_efficiency type VotingSystemCriteria.
- Pareto_efficiency comment "Pareto efficiency, or Pareto optimality, is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.".
- Pareto_efficiency label "Eficiencia de Pareto".
- Pareto_efficiency label "Eficiência à Pareto".
- Pareto_efficiency label "Optimum Pareta".
- Pareto_efficiency label "Optimum de Pareto".
- Pareto_efficiency label "Ottimo paretiano".
- Pareto_efficiency label "Pareto efficiency".
- Pareto_efficiency label "Pareto-Optimum".
- Pareto_efficiency label "Pareto-efficiëntie".
- Pareto_efficiency label "Эффективность по Парето".
- Pareto_efficiency label "أمثلية باريتو".
- Pareto_efficiency label "パレート効率性".
- Pareto_efficiency label "帕累托最优".
- Pareto_efficiency sameAs Paretovo_optimum.
- Pareto_efficiency sameAs Pareto-Optimum.
- Pareto_efficiency sameAs Αποτελεσματικός_κατά_Παρέτο.
- Pareto_efficiency sameAs Eficiencia_de_Pareto.
- Pareto_efficiency sameAs Paretoren_efizientzia.
- Pareto_efficiency sameAs Optimum_de_Pareto.
- Pareto_efficiency sameAs Ottimo_paretiano.
- Pareto_efficiency sameAs パレート効率性.
- Pareto_efficiency sameAs 파레토_최적.
- Pareto_efficiency sameAs Pareto-efficiëntie.
- Pareto_efficiency sameAs Optimum_Pareta.
- Pareto_efficiency sameAs Eficiência_à_Pareto.
- Pareto_efficiency sameAs m.0cc4q.
- Pareto_efficiency sameAs Q36829.
- Pareto_efficiency sameAs Q36829.
- Pareto_efficiency sameAs Pareto_efficiency.
- Pareto_efficiency wasDerivedFrom Pareto_efficiency?oldid=606206003.
- Pareto_efficiency depiction PareoEfficientFrontier1024x1024.png.
- Pareto_efficiency isPrimaryTopicOf Pareto_efficiency.
