Pareto improvement


Pareto improvement
A change in the allocation of a resource to a set of individuals that is an improvement for at least one and no worse for any other.

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  • Pareto Improvement — In neoclassical economics, an action done in an economy that harms no one and helps at least one person. The theory suggests that Pareto improvements will keep adding to the economy until it achieves a Pareto equilibrium, where no more Pareto… …   Investment dictionary

  • Pareto-improvement — See Pareto principle …   Dictionary of sociology

  • Pareto efficiency — Pareto efficiency, or Pareto optimality, is an important concept in economics with broad applications in game theory, engineering and the social sciences. The term is named after Vilfredo Pareto, an Italian economist who used the concept in his… …   Wikipedia

  • Pareto principle — A principle of welfare economics derived from the writings of Vilfredo Pareto , which states that a legitimate welfare improvement occurs when a particular change makes at least one person better off, without making any other person worse off. A… …   Dictionary of sociology

  • Pareto principle — Put in terms of preferences, this is the principle that (i) if everyone in a society is indifferent between two alternatives then the society should be indifferent as well, and (ii) if at least one individual prefers x to y, and everyone else… …   Philosophy dictionary

  • Pareto analysis — is a statistical technique in decision making that is used for selection of a limited number of tasks that produce significant overall effect. It uses the Pareto principle the idea that by doing 20% of work you can generate 80% of the advantage… …   Wikipedia

  • Pareto Analysis — A technique used for decision making based on the Pareto Principle, known as the 80/20 rule. It is a decision making technique that statistically separates a limited number of input factors as having the greatest impact on an outcome, either… …   Investment dictionary

  • the Pareto principle — UK US noun [S] (also Pareto s law , INFORMAL the 80/20 rule) ECONOMICS, WORKPLACE, PRODUCTION ► the idea that a small quantity of work or resources (= time, money, employees, etc.) can produce a large number of results: »The Pareto principle,… …   Financial and business terms

  • Continuous Improvement Process — Kontinuierlicher Verbesserungsprozess oder kurz KVP (engl.: Continuous Improvement Process (CIP)) ist eine innere Haltung aller Beteiligten und bedeutet: stetige Verbesserung mit möglichst nachhaltiger Wirkung. Diese Haltung durchdringt dann alle …   Deutsch Wikipedia

  • Kaldor-Hicks efficiency — (named for Nicholas Kaldor and John Hicks) is a measure of economic efficiency that captures some of the intuitive appeal of Pareto efficiency, but has less stringent criteria and is hence applicable to more circumstances. Under Kaldor Hicks… …   Wikipedia


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