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Pareto optimum [1 record]

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Alphabetical list of terms

Record 1 2001-08-27

English

Subject field(s)
  • Economic Doctrines, Systems and Policies
DEF

A state of the economy in which all economic resources are allocated and used efficiently, such that it is impossible to make anyone economically better off without making someone else economically worse off.

CONT

The basic starting point of much of welfare economics is the theorem that the result of a system of perfect competition under ideal conditions is a "Pareto optimum." A Pareto optimum is a state of affairs which cannot be altered to the advantage of one participant without at least some disadvantage to some other person. In general, for any state which is not a Pareto optimum, there will exist another feasible state which would be preferred to the original one by all concerned.

Key term(s)
  • Paretian optimum

French

Domaine(s)
  • Doctrines, systèmes et politiques économiques
DEF

État de l'économie où, étant donné la répartition des ressources, nul ne peut améliorer sa position sans détériorer celle d'un autre.

CONT

L'optimum de Pareto comporte la réalisation de deux groupes de conditions définissant respectivement, l'optimalité des productions et celle des échanges. Un optimum de production est atteint lorsque, avec des ressources données, il est impossible d'augmenter la production d'un bien, sans diminuer celle d'au moins un autre bien. [...] Un optimum de l'échange est une situation telle, que l'on ne peut, avec des quantités de biens données, augmenter la satisfaction d'un consommateur sans diminuer celle d'au moins un autre individu.

Spanish

Campo(s) temático(s)
  • Doctrinas, políticas y sistemas económicos
DEF

Situación en la cual ninguna redistribución admisible de los productos o factores podría aumentar el nivel de utilidad de una economía sin disminuir el nivel de otras.

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