Definition
If a change from X to Y results in at least one agent better off without making any agents worse off, we call Y a Pareto improvement relative to X. If no more Pareto improvements are possible, the situation is said to be Pareto efficient or Pareto optimal.
Meta
When thinking about a proposed Pareto improvement, consider the resistance to change on the part of the people who will implement your proposal. You may realize that your proposal is no longer a Pareto improvement because of the non-monetary costs involved.
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I'm an engineer who enjoys figuring out how ideas are related. Welcome to a random walk through my thoughts.
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