Pareto efficiency
E145374
Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
All labels observed (5)
| Label | Occurrences |
|---|---|
| Pareto efficiency canonical | 10 |
| Pareto optimality | 2 |
| Pareto optimum | 2 |
| Pareto criterion | 1 |
| Pareto frontier | 1 |
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic concept
ⓘ
efficiency concept ⓘ welfare economics concept ⓘ |
| alsoKnownAs |
Pareto efficiency
ⓘ
surface form:
Pareto optimality
Pareto efficiency ⓘ
surface form:
Pareto optimum
|
| appliesTo |
allocations of resources
ⓘ
consumption bundles ⓘ distributions of goods ⓘ general equilibrium outcomes ⓘ production plans ⓘ |
| assesses | allocative efficiency ⓘ |
| assumes |
given endowments
ⓘ
given preference profiles ⓘ |
| contrastsWith |
dominated allocation
ⓘ
inefficient allocation ⓘ |
| coreIdea | no individual can be made better off without making at least one individual worse off ⓘ |
| criterionType | efficiency criterion ⓘ |
| doesNotImply |
equality
ⓘ
equity ⓘ fairness ⓘ |
| field |
economics
ⓘ
microeconomics ⓘ welfare economics ⓘ |
| formalizedBy | Pareto ordering ⓘ |
| historicalOrigin | late 19th century ⓘ |
| isNeutralAbout |
distribution of utility levels
ⓘ
interpersonal comparisons of utility ⓘ |
| isPropertyOf |
allocations
ⓘ
economic states ⓘ outcomes of games ⓘ |
| limitation |
does not rank Pareto-efficient allocations among themselves
ⓘ
may select multiple possible efficient allocations ⓘ |
| namedAfter | Vilfredo Pareto ⓘ |
| relatedConcept |
Hicks–Kaldor compensation criterion
ⓘ
surface form:
Kaldor–Hicks efficiency
Pareto efficiency self-linksurface differs ⓘ
surface form:
Pareto frontier
Pareto improvement ⓘ First Welfare Theorem ⓘ
surface form:
first fundamental theorem of welfare economics
second fundamental theorem of welfare economics ⓘ social welfare function ⓘ |
| usedAs |
benchmark for market outcomes
ⓘ
normative standard in welfare analysis ⓘ |
| usedIn |
cost–benefit analysis
ⓘ
game theory ⓘ market design ⓘ mechanism design ⓘ public economics ⓘ resource allocation problems ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Pareto efficiency Description of subject: Pareto efficiency is an economic concept describing an allocation of resources where no individual can be made better off without making someone else worse off.
Referenced by (16)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Pareto optimality
this entity surface form:
Pareto optimality
this entity surface form:
Pareto optimum
this entity surface form:
Pareto frontier
this entity surface form:
Pareto criterion
this entity surface form:
Pareto optimum