Pareto Optimum (or Pareto efficiency): A standard ideal of philosophical and economic rationality in which no-one can be made better off without making someone else worse based on pure-type dyadic exchanges of private assets in vacuo.
Pareto Optimum (or Pareto efficiency): A standard ideal of philosophical and economic rationality in which no-one can be made better off without making someone else worse based on pure-type dyadic exchanges of private assets in vacuo.