Pareto-efficient/Definition: Difference between revisions
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An optimum situation in which it would be impossible to make anybody feel better-off without making somebody feel worse-off (see [[economic efficiency]]). | An optimum situation in which it would be impossible to make anybody feel better-off without making somebody feel worse-off (see [[economic efficiency]]). | ||
Latest revision as of 22:47, 22 May 2008
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Pareto-efficient [r]: An optimum situation in which it would be impossible to make anybody feel better-off without making somebody feel worse-off (see economic efficiency).