Pareto Efficiency?

Pareto Efficiency?
[2/17]
by openlectures

Is pareto efficiency the same as allocative efficiency? Well not really.

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[anonp]

Just to clarify on that remark about how any movement of the existing point within the 'quadrant' is a Pareto improvement: Unless it's a movement along the positive line of unity (sometimes the 45deg line), any movement of the point within that quadrant only makes the agent better off than he was previously; he is either worse off or better off than the other agent after this pareto improvement.

[Eucalypten]

What do the different axes represent and how are they measured?

[marifkhan]

i have given two definitions of Pareto efficiency which one is right?
1. "it is impossible to makes someone better off with out making someone else worst off". in UPF or contract curve
2. " it is possible that someone would be better off while others may not worst off" (Ua increases and Ub do not change)
two extreme given in your videos of edgeworth contract curve and this video. i am confused in it

[worldofsoumya]

I just experienced it today in my day long activity. Mel Robbins keeps speaking about this.

[dima-tjkb]

Did u just finish my whole chapter in a minute? Thank u master

[katman]

this asian dude made me understand this concept in 20 sec

[crazycurious]

Bad explained. Low level of explanation!