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Efficient, Pareto-improving processes

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  • Yun, Kwan Koo

Abstract

We give two optimization programs for determining whether Pareto improving local changes are possible. When they are, the programs compute them. Any procedure generating efficient and Pareto improving changes can be replicated by these programs. The two programs are dual to each other. We apply the programs to Pareto improving exchange processes and to Pareto-improving tax-tariff reforms.

Suggested Citation

  • Yun, Kwan Koo, 2010. "Efficient, Pareto-improving processes," Journal of Mathematical Economics, Elsevier, vol. 46(3), pages 326-331, May.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:3:p:326-331
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    References listed on IDEAS

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    1. Claude d’Aspremont & Henry Tulkens, 2006. "Commodity Exchanges as Gradient Processes," Springer Books, in: Parkash Chander & Jacques Drèze & C. Knox Lovell & Jack Mintz (ed.), Public goods, environmental externalities and fiscal competition, chapter 0, pages 81-95, Springer.
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    7. Turunen-Red, Arja H & Woodland, Alan D, 1991. "Strict Pareto-Improving Multilateral Reforms of Tariffs," Econometrica, Econometric Society, vol. 59(4), pages 1127-1152, July.
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