Pareto efficiency/Definition

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Revision as of 04:24, 4 November 2009 by imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> 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...)
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Pareto efficiency [r]: 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.