On the Definition of Economic Efficiency
AbstractThis paper analyzes the definition of economic efficiency. The standard definition used in economic literature is the Pareto Optimum which is based in the space of individual utilities. This paper proposes new definitions based on alternative spaces. The paper also introduces a dominance criterion for efficiency over a set of social evaluation spaces.
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Bibliographic InfoPaper provided by CIRPEE in its series Cahiers de recherche with number 0644.
Date of creation: 2006
Date of revision:
Efficiency; Social justice; Dominance;
Other versions of this item:
- D60 - Microeconomics - - Welfare Economics - - - General
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
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- Bossert, W., 1993.
"Redistribution Mechanisms Based on Individual Characteristics,"
9307, University of Waterloo, Department of Economics.
- Bossert, Walter, 1995. "Redistribution mechanisms based on individual characteristics," Mathematical Social Sciences, Elsevier, vol. 29(1), pages 1-17, February.
- Bossert W., 1996. "Redistribution mechanisms based on individual characteristics," Mathematical Social Sciences, Elsevier, vol. 31(1), pages 51-51, February.
- Fleurbaey Marc, 1995. "Three Solutions for the Compensation Problem," Journal of Economic Theory, Elsevier, vol. 65(2), pages 505-521, April.
- Roemer, J.E., 1992. "A Pragmatic Theory of Responsibility for the Egalitarian Planner," Papers 391, California Davis - Institute of Governmental Affairs.
- Marc Fleurbaey & Walter Bossert, 1996. "Redistribution and compensation (*)," Social Choice and Welfare, Springer, vol. 13(3), pages 343-355.
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