pareto improvement

(redirected from Pareto efficiency)
Also found in: Financial, Encyclopedia, Wikipedia.

pareto improvement

any change in economic management that improves the situation of one or more members of the community without worsening the lot of anyone.
References in periodicals archive ?
In advancing their assertion, Murphy and Nagel are doing little more than reflecting the unlimited domain of contemporary welfare economics, wherein the province of state action is governed by nothing more than some economist's formulation of the necessary conditions for Pareto efficiency.
The other concepts he analyses in detail include game theory, competitive equilibriums and their efficiency, Pareto efficiency, and relation of economics with other disciplines.
For a fully diverse population that includes preferences for every possible mix of attributes, Pareto efficiency is not an informative welfare criterion, since it is impossible to relocate goods such that no one is made worse off.
Among specific topics of the 58 chapters are substitution and income effects, monopolistic competition, the logistic growth curve, pareto efficiency, the trade theory diagram, non-neutrality of money, and the Lorentz curve.
Buckley's analysis is wedded to the notion of Pareto efficiency of the arrangement under the Global Factory (Buckley 2010, 2011) though, on my reading, compared to the earliest statements of internalisation the argument in favour of Pareto efficiency is somewhat circumspect and even half-hearted.
Pareto efficiency is a natural notion of efficiency: We will say that a network g [member of] G is Pareto efficient if it is not Pareto dominated by any other network; that is, if there does not exist g' [member of] G such that W(g') [greater than or equal to] W(g) and [[pi].
Without interpersonal utility comparisons, welfare economics is reduced to the very restrictive appeal to strong Pareto efficiency.
We use the standard notion of Pareto efficiency applied to type-identical allocations.
Pareto efficiency is defined as a situation when no one can be made better off without making someone else worse off.
Testing Pareto efficiency of household resource allocations is one general test of the collective model.
I agree that much economic literature does relate optimum to Pareto efficiency.
Economics of Pareto Efficiency Welfare economists often use Pareto Efficiency and Pareto Superiority to discuss the efficiency of an economic system.