Pareto-efficient love

Pareto-efficient

Definitions

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • adj. Alternative spelling of Pareto efficient.

Etymologies

Sorry, no etymologies found.

Examples

  • In other words, classic Jeremy Bentham utilitarianism versus Pareto-efficient Kantian deontology?

    Who Loses From Efficiency?, Bryan Caplan | EconLog | Library of Economics and Liberty

  • For instance, Pazner and Schmeidler (1974) found out that there may not exist envy-free and Pareto-efficient allocations in the context of production with unequal skills (when there are high-skilled individuals who are strongly averse to labor).

    Economics and Economic Justice

  • It has been shown by Varian (1976) that, if preferences are sufficiently diverse and numerous (a continuum), then the competitive equilibrium with equal shares is the only Pareto-efficient and envy-free allocation.

    Economics and Economic Justice

  • If one also requires the selection to be Pareto-efficient, then one obtains a characterization of the competitive equilibrium with equal shares (Gevers 1986).

    Economics and Economic Justice

  • It is Pareto-efficient because, by an important theorem of welfare economics, any perfectly competitive equilibrium is Pareto-efficient (in absence of asymmetric information, externalities, public goods).

    Economics and Economic Justice

  • A competitive equilibrium with equal shares (i.e., equal budgets) is the central example of a Pareto-efficient and envy-free allocation.

    Economics and Economic Justice

  • Stiglitz J.E. 1987, “The theory of Pareto-efficient and optimal redistributive taxation”, in Auerbach, Feldstein (eds.).

    Economics and Economic Justice

  • Instead, the claim of rational choice contractarianism is that the correct account of binding moral norms is one that implies that if these norms are followed, the outcomes will be Pareto-efficient.

    Game Theory and Ethics

  • Whereas contractarian choice would have it that (Stag, Stag) is the correct norm to settle upon, evolutionary game theory teaches us that it is unlikely that the Pareto-efficient equilibrium will be selected in a process of repeated interactions.

    Game Theory and Ethics

  • What is more, the Pareto-efficient equilibrium is unstable: occasional deviations from this equilibrium will lead the population as a whole to coordinate on (hare, hare) rather than (stag, stag).

    Game Theory and Ethics

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