Diagram: Vilfredo Pareto

Vilfredo Paretodefinition.php

power law distributions + Pareto optimality

Not possible to change the behavior of one agent without another agent being worse off.

not about equality: for example reallocation of resources through taxation - make one person better off (the poor) at the expense of another (the rich). It is only when an agent's state can be improved without reducing the state of another that we have a Pareto improvement.

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Cite this page:

Wohl, S. (2019, 13 November). Vilfredo Pareto. Retrieved from https://kapalicarsi.wittmeyer.io/definition/pareto

Vilfredo Pareto was updated November 13th, 2019.

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  • There would be some thought experiments here.