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  2. Economic efficiency - Wikipedia

    en.wikipedia.org/wiki/Economic_efficiency

    A market can be said to have allocative efficiency if the price of a product that the market is supplying is equal to the marginal value consumers place on it, and equals marginal cost. In other words, when every good or service is produced up to the point where one more unit provides a marginal benefit to consumers less than the marginal cost ...

  3. Pareto efficiency - Wikipedia

    en.wikipedia.org/wiki/Pareto_efficiency

    Constrained Pareto efficiency is a weakening of Pareto optimality, accounting for the fact that a potential planner (e.g., the government) may not be able to improve upon a decentralized market outcome, even if that outcome is inefficient. This will occur if it is limited by the same informational or institutional constraints as are individual ...

  4. Production–possibility frontier - Wikipedia

    en.wikipedia.org/wiki/Production–possibility...

    Pareto efficiency is achieved when the marginal rate of transformation (slope of the frontier/opportunity cost of goods) is equal to all consumers' marginal rate of substitution. Similarly, not all Pareto efficient points on the frontier are Allocative efficient. Allocative efficient is only achieved when the economy produces at quantities that ...

  5. Wikipedia:Citation templates - Wikipedia

    en.wikipedia.org/wiki/Wikipedia:Citation_templates

    For a citation to appear in a footnote, it needs to be enclosed in "ref" tags. You can add these by typing <ref> at the front of the citation and </ref> at the end. . Alternatively you may notice above the edit box there is a row of "markup" formatting buttons which include a <ref></ref> button to the right—if you highlight your whole citation and then click this markup button, it will ...

  6. Ordinal Pareto efficiency - Wikipedia

    en.wikipedia.org/wiki/Ordinal_Pareto_efficiency

    Abdulkadiroğlu and Sönmez [12] investigate the relation between sd-efficiency and ex-post Pareto-efficiency (in the context of random assignment). They introduce a new notion of domination for sets of assignments, and show that a lottery is sd-efficient iff each subset of the support of the lottery is undominated.

  7. Category:Pareto efficiency - Wikipedia

    en.wikipedia.org/wiki/Category:Pareto_efficiency

    Allocative efficiency; B. Bayesian efficiency; E. ... Ordinal Pareto efficiency; P. Pareto front This page was last edited on 1 July 2022, at 07:36 (UTC). ...

  8. Efficient approximately fair item allocation - Wikipedia

    en.wikipedia.org/wiki/Efficient_approximately...

    Efficiency notions: Pareto-efficiency, graph Pareto-efficiency (where Pareto-domination considers only exchanges between neighbors on a fixed graph), and group-Pareto-efficiency. An allocation X as k-group-Pareto-efficient (GPE k ) if there is no other allocation Y that is at least as good (by arithmetic mean of utilities) for all groups of ...

  9. Welfare economics - Wikipedia

    en.wikipedia.org/wiki/Welfare_economics

    In fact, there are an infinity of consumption and production equilibria that yield Pareto optimal results. There are as many optima as there are points on the aggregate production–possibility frontier. Hence, Pareto efficiency is a necessary, but not a sufficient condition for social welfare.