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Pareto-Optimality or Pareto-Efficiency: Same Concept, Different Names? An Analysis Over a Century of Economic Literature

In: A Research Annual

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  • Irène Berthonnet
  • Thomas Delclite

Abstract

The chapter analyses the uses made in the economic literature of the two modern names of the Paretian criterion: optimality and efficiency. Based on a large database of 10,000 EconLit referenced scientific publications, we use a lexicometric and historical approach to study the uses, instead of the meaning, of the Paretian Criterion. We prove that economists differentiate their use of optimality and efficiency and that since the 1970s, uses of Pareto-efficiency have gradually replaced those of Pareto-optimality. Our interpretation is that economists who use the Paretian criterion change the status of their analysis from normative to positive economics.

Suggested Citation

  • Irène Berthonnet & Thomas Delclite, 2015. "Pareto-Optimality or Pareto-Efficiency: Same Concept, Different Names? An Analysis Over a Century of Economic Literature," Research in the History of Economic Thought and Methodology, in: A Research Annual, volume 32, pages 129-145, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rhetzz:s0743-415420140000032005
    DOI: 10.1108/S0743-415420140000032005
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    Cited by:

    1. Vallet, Améline & Locatelli, Bruno & Levrel, Harold & Wunder, Sven & Seppelt, Ralf & Scholes, Robert J. & Oszwald, Johan, 2018. "Relationships Between Ecosystem Services: Comparing Methods for Assessing Tradeoffs and Synergies," Ecological Economics, Elsevier, vol. 150(C), pages 96-106.

    More about this item

    Keywords

    Efficiency; lexicometry; normative economics; optimality; Pareto; positive economics; B2; D6; A11;
    All these keywords.

    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • D6 - Microeconomics - - Welfare Economics
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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