Pareto efficiency/Related Articles
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Pareto efficiency: A Pareto-efficient situation is defined as one from which no change could benefit anyone without harming someone else, and the Pareto criterion for the assessment of a change requires that someone must gain from it and no-one most lose. [e]
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Parent topics
- Vilfredo Pareto [r]: (1848-1923) An Italian sociologist and economist known for his analysis of elites and his statistical studies of inequality. [e]
- Game theory [r]: A field of mathematics commonly associated with economics that provides models for behavior in many diverse situations, and is used in many academic fields from politics to computer science. [e]
- Economic efficiency [r]: Ratio of the quantity of some measure of output to the quantity of input required to bring it about. [e]
Subtopics
- Prisoner's dilemma [r]: In game theory, a non-zero sum game in which mutual cooperation is better for all participants than uncoordinated attempts to maximize individual personal gains. [e]
- Income distribution [r]: Add brief definition or description
- Deadweight loss [r]: Add brief definition or description