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Pareto Efficiency - Mastering Pareto Efficiency Empower Your Economic Understanding - cover

Pareto Efficiency - Mastering Pareto Efficiency Empower Your Economic Understanding

Fouad Sabry

Publisher: One Billion Knowledgeable

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Summary

What is Pareto Efficiency
 
Pareto efficiency or Pareto optimality is a situation where no action or allocation is available that makes one individual better off without making another worse off. The concept is named after Vilfredo Pareto (1848-1923), Italian civil engineer and economist, who used the concept in his studies of economic efficiency and income distribution. The following three concepts are closely related:Given an initial situation, a Pareto improvement is a new situation where some agents will gain, and no agents will lose.A situation is called Pareto-dominated if there exists a possible Pareto improvement.A situation is called Pareto-optimal or Pareto-efficient if no change could lead to improved satisfaction for some agent without some other agent losing or, equivalently, if there is no scope for further Pareto improvement.
 
How you will benefit
 
(I) Insights, and validations about the following topics:
 
Chapter 1: Pareto efficiency
 
Chapter 2: Economic efficiency
 
Chapter 3: Welfare economics
 
Chapter 4: Allocative efficiency
 
Chapter 5: Social planner
 
Chapter 6: Liberal paradox
 
Chapter 7: Fundamental theorems of welfare economics
 
Chapter 8: Competitive equilibrium
 
Chapter 9: Efficient cake-cutting
 
Chapter 10: Efficient envy-free division
 
Chapter 11: Weller's theorem
 
Chapter 12: Utilitarian cake-cutting
 
Chapter 13: Envy-free item allocation
 
Chapter 14: Approximate Competitive Equilibrium from Equal Incomes
 
Chapter 15: Fair random assignment
 
Chapter 16: Random priority item allocation
 
Chapter 17: Egalitarian equivalence
 
Chapter 18: Efficient approximately fair item allocation
 
Chapter 19: Fractional Pareto efficiency
 
Chapter 20: Egalitarian rule
 
Chapter 21: Ordinal Pareto efficiency
 
(II) Answering the public top questions about pareto efficiency.
 
(III) Real world examples for the usage of pareto efficiency in many fields.
 
Who this book is for
 
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Pareto Efficiency.
Available since: 02/03/2024.
Print length: 244 pages.

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