Category: Pareto efficiency

Pareto front
In multi-objective optimization, the Pareto front (also called Pareto frontier or Pareto curve) is the set of all Pareto efficient solutions. The concept is widely used in engineering. It allows the d
Fractional Pareto efficiency
In economics and computer science, Fractional Pareto efficiency or Fractional Pareto optimality (fPO) is a variant of Pareto efficiency used in the setting of fair allocation of discrete objects. An a
Ordinal Pareto efficiency
Ordinal Pareto efficiency refers to several adaptations of the concept of Pareto-efficiency to settings in which the agents only express ordinal utilities over items, but not over bundles. That is, ag
Pareto efficiency
Pareto efficiency or Pareto optimality is a situation where no individual or preference criterion can be made better off without making at least one individual or preference criterion worse off. The c
Efficient cake-cutting
Efficient cake-cutting is a problem in economics and computer science. It involves a heterogeneous resource, such as a cake with different toppings or a land with different coverings, that is assumed
Bayesian efficiency
Bayesian efficiency is an analog of Pareto efficiency for situations in which there is incomplete information. Under Pareto efficiency, an allocation of a resource is Pareto efficient if there is no o
Allocative efficiency
Allocative efficiency is a state of the economy in which production is aligned with consumer preferences; in particular, every good or service is produced up to the point where the last unit provides
Kaldor–Hicks efficiency
A Kaldor–Hicks improvement, named for Nicholas Kaldor and John Hicks, is an economic re-allocation of resources among people that captures some of the intuitive appeal of a Pareto improvement, but has
Efficient envy-free division
Efficiency and fairness are two major goals of welfare economics. Given a set of resources and a set of agents, the goal is to divide the resources among the agents in a way that is both Pareto effici