pareto improvement

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 ?
Hence, consumption rises for both classes of consumers; in other words, society experiences Pareto improvement.
14) The source of any Pareto improvement is identified through an intrapersonal comparison of utility (Champman, 2005).
As indicated in the following corollary, which we obtain from the proof of Theorem 4, it is sufficient for examining Pareto improvement through solvency regulation to compare the policyholder's utility as a function of [alpha] [member of] [0, 1] along the insurer's respective level curve.
Second-best theory can be advanced to explain why particular efforts to set price equal to marginal cost might not be a Pareto improvement in the presence of numerous instances where that equality condition is violated.
But this Pareto improvement is barred by the nonwelfarist principle of fairness, creating the conflict between the Pareto principle and "fair" legal rules.
A Pareto improvement occurs if at least one person is made
There is no need to single out certain targets in this overall process, under the definitions of Pareto improvement and Pareto optimality discussed above.
The hawks aACAo the Israelis, the Saudis, and their congressional allies aACAo however, oppose this pareto improvement for the two negotiating parties, because it's not a pareto improvement for them," he said.
Maximizing GDP is not a Pareto improvement if the policies pursued to maximize it are not free from the use of force or coercion.
Thus, M' cannot be a Pareto improvement on M if x chooses a' and y chooses b' in M', since a = a' and b = b' imply no one is strictly better off.
According to Steven Landsburg, a change is a Pareto improvement if it makes at least one person better off, but makes no one else worse off.
In the next century Pareto, the Italian philosopher provides a theoretical mechanism to evaluate different states with an otherwise simple looking criterion that any change that makes at least one person better off without making any one else worse off is a Pareto improvement and a situation where no Pareto improvement is possible is Pareto optimal.