Pareto efficiency
E145374
Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
All labels observed (5)
| Label | Occurrences |
|---|---|
| Pareto efficiency canonical | 10 |
| Pareto optimality | 2 |
| Pareto optimum | 2 |
| Pareto criterion | 1 |
| Pareto frontier | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T1266628 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
Target entity: Pareto efficiency Context triple: [Kalai–Smorodinsky bargaining solution, basedOn, Pareto efficiency]
-
A.
On Equilibrium
On Equilibrium is a philosophical work by John Ralston Saul that explores the importance of balancing key human qualities—such as reason, ethics, and common sense—to create a more humane and democratic society.
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B.
Karush–Kuhn–Tucker conditions
The Karush–Kuhn–Tucker conditions are fundamental optimality criteria in nonlinear programming that generalize Lagrange multipliers to handle inequality constraints.
-
C.
Coase theorem
The Coase theorem is an economic theory stating that if property rights are well-defined and transaction costs are negligible, private bargaining will lead to an efficient allocation of resources regardless of the initial assignment of rights.
-
D.
expected utility theory (with John von Neumann)
Expected utility theory (with John von Neumann) is a foundational framework in economics and decision theory that models how rational agents make choices under uncertainty by maximizing the expected value of a utility function.
-
E.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
Target entity: Pareto efficiency Target entity description: Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
-
A.
On Equilibrium
On Equilibrium is a philosophical work by John Ralston Saul that explores the importance of balancing key human qualities—such as reason, ethics, and common sense—to create a more humane and democratic society.
-
B.
Karush–Kuhn–Tucker conditions
The Karush–Kuhn–Tucker conditions are fundamental optimality criteria in nonlinear programming that generalize Lagrange multipliers to handle inequality constraints.
-
C.
Coase theorem
The Coase theorem is an economic theory stating that if property rights are well-defined and transaction costs are negligible, private bargaining will lead to an efficient allocation of resources regardless of the initial assignment of rights.
-
D.
expected utility theory (with John von Neumann)
Expected utility theory (with John von Neumann) is a foundational framework in economics and decision theory that models how rational agents make choices under uncertainty by maximizing the expected value of a utility function.
-
E.
Inequality Reexamined
Inequality Reexamined is a philosophical and economic work by Amartya Sen that critically analyzes traditional views of inequality and justice through his capabilities approach.
- F. None of above. chosen
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic concept
ⓘ
efficiency concept ⓘ welfare economics concept ⓘ |
| alsoKnownAs |
Pareto efficiency
ⓘ
surface form:
Pareto optimality
Pareto efficiency ⓘ
surface form:
Pareto optimum
|
| appliesTo |
allocations of resources
ⓘ
consumption bundles ⓘ distributions of goods ⓘ general equilibrium outcomes ⓘ production plans ⓘ |
| assesses | allocative efficiency ⓘ |
| assumes |
given endowments
ⓘ
given preference profiles ⓘ |
| contrastsWith |
dominated allocation
ⓘ
inefficient allocation ⓘ |
| coreIdea | no individual can be made better off without making at least one individual worse off ⓘ |
| criterionType | efficiency criterion ⓘ |
| doesNotImply |
equality
ⓘ
equity ⓘ fairness ⓘ |
| field |
economics
ⓘ
microeconomics ⓘ welfare economics ⓘ |
| formalizedBy | Pareto ordering ⓘ |
| historicalOrigin | late 19th century ⓘ |
| isNeutralAbout |
distribution of utility levels
ⓘ
interpersonal comparisons of utility ⓘ |
| isPropertyOf |
allocations
ⓘ
economic states ⓘ outcomes of games ⓘ |
| limitation |
does not rank Pareto-efficient allocations among themselves
ⓘ
may select multiple possible efficient allocations ⓘ |
| namedAfter | Vilfredo Pareto ⓘ |
| relatedConcept |
Hicks–Kaldor compensation criterion
ⓘ
surface form:
Kaldor–Hicks efficiency
Pareto efficiency self-linksurface differs ⓘ
surface form:
Pareto frontier
Pareto improvement ⓘ First Welfare Theorem ⓘ
surface form:
first fundamental theorem of welfare economics
second fundamental theorem of welfare economics ⓘ social welfare function ⓘ |
| usedAs |
benchmark for market outcomes
ⓘ
normative standard in welfare analysis ⓘ |
| usedIn |
cost–benefit analysis
ⓘ
game theory ⓘ market design ⓘ mechanism design ⓘ public economics ⓘ resource allocation problems ⓘ |
How these facts were elicited
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You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Subject: Pareto efficiency Description of subject: Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
Referenced by (16)
Full triples — surface form annotated when it differs from this entity's canonical label.