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Preferred term

Pareto optimality  

Definition

  • Pareto optimality is a concept originated by the nineteenth-century marginalist economist Vilfredo Pareto. As it has come to be used throughout economics and political science, it refers to a joint social state in which no single individual's condition can be improved without detracting from one or more other individuals' conditions. [Source: Encyclopedia of Governance; Pareto Optimality]

Broader concept

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https://concepts.sagepub.com/social-science/concept/Pareto_optimality

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