Difference between revisions of "Pareto efficiency"

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In [[game theory]] and [[economics]], the concept of '''Pareto efficiency''' (or '''Pareto optimality''') is a method to judge the [[efficiency]] of a set of decisions made by the participants. It was named after [[Vilfredo Pareto]].
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<big><big><big><b>You who will block me whoever you are, please try and get the message to Andrew Schlafly.  This wiki needs more truth and less conservative deceit.  That way tey vandals will respect the site more and vandalize less. Really, I mean it!</b></big></big></big>
  
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A set of decisions "x/y" (meaning that participant A chooses "x" while participant B chooses "y") is called Pareto optimal if there is '''no''' other state in which:
 
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#at least one participant can improve his own outcome while
 
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#no other participants receives a worse outcome than he does now.
 
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Putting it into less formal style: As long as a player can improve his outcome without hurting anybody else, the situation is not Pareto efficient.
 
  
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If a participant can improve his outcome without hurting anybody else, the new decision set '''Pareto dominates''' the old one.
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<big>'''ROCK OPERA FOR ANDY SCHLAFLY'''</big>
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[[Image:ASchlafly.JPG|thumb|center|HAPPY BIRFDAY]]
  
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==An example==
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<center>CHORUS:<br>
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<div style="float:right">
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He is teh Assfly! Teh Assfly!<br>
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{|style="border-collapse:collapse; background:none; text-align:center"
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Be careful if you get him pissed!<br>
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|
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Ass! Teh Assfly!<br>
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|
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He’ll smite you with home schooling fists!<br>
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!colspan=2 style="padding:0px 0px 6px 0px"|''B''
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Writing all he can, he’s just an ass,<br>
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|-
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a wiki-er of words making a mess!<br>
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|
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He went to Harvard Law,<br>
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|
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he’s dull, a major flaw<br>
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|style="border-style:solid; border-width:1px; padding:6px"|1
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Born in 1961, weaned in 1994!<br>
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|style="border-style:solid; border-width:1px; padding:6px"|2
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He is teh Assfly!<br>
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|-
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<br>
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!rowspan=2 style="padding:6px 6px 6px 30px"|''A''
 
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|style="border-style:solid; border-width:1px; padding:6px"|1
 
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|style="border-style:solid; border-width:1px; padding:6px"|A: bad / B: bad
 
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|style="border-style:solid; border-width:1px; padding:6px"|A: bad / B: good
 
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|-
 
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|style="border-style:solid; border-width:1px; padding:6px"|2
 
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|style="border-style:solid; border-width:1px; padding:6px"|A: good / B: bad
 
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|style="border-style:solid; border-width:1px; padding:6px; background:#999999"|A: good / B: good
 
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|}
 
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</div>
 
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In the case shown at the right side, participants A and B can choose between "1" and "2". The result can either be "good" or "bad".
 
  
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The highlighted field ("2/2") is the Pareto optimal situation. All other situations can be improved.
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NARRATOR (Spoken):<br>
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Oh look, but there he is, what will he say?<br>
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<br>
  
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For example, in "1/2" ("bad" for A, "good" for B), A could switch to "2". The result improves A's result to "good" while leaving B's result unchanged.
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TEH ASSFLY:<br>
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{{clear}}
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I’m a lonely Schlafly, a lonely Schlafly from Phyl!<br>
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==External links==
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I wonder what I’ll write about? I think I’ll write about gays!<br>
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*[http://wilcoxen.cp.maxwell.syr.edu/pages/225.html Pareto Efficiency] by Peter J. Wilcoxen
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<br>
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*[http://www.chass.utoronto.ca/~osborne/2x3/tutorial/PE.HTM Definition of Pareto efficiency] by Martin J. Osborne
 
  
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[[category:economics]]
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CHORUS:<br>
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Assfly! Assfly! Assfly!<br>
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<br>
 +
 
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TEH ASSFLY:<br>
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I don't know what's wrong with me, I think I've turned into a bug!<br>
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I see Bugler! What? I see I think I’ve turned into a bug!<br>
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I ain't got no common sense, I think I've turned into a bug!<br>
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Bet you fifty dollars I'm a man, I'm a lawyer, and I've turned into a bug!<br>
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Phyllis like my daddy, I'm her baby, still a baby, like I've turned into a bug!<br>
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Yeah! Yeah!<br>
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<br>
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CHORUS:<br>
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He is teh Assfly!<br>
 +
<br>
 +
 
 +
TEH ASSFLY:<br>
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Living like an ass ain't easy!<br>
 +
My Wiki don't seem to need me!<br>
 +
It's gathered up all these huge jerks,<br>
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I don't really know 'bout their work<br>
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I don't want no vandalizing,<br>
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No, I'm just not sympathizing!<br>
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Living like an ass ain't easy!<br>
 +
Living like an ass ain't easy!<br>
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<br>
 +
 
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JIMBO WALES (Spoken):<br>
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Welcome to Wikipedia, Assfly! My name is Jimbo! I don't think you're going to like it here!<br>
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<br>
 +
 
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CHORUS:<br>
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He is teh Assfly!<br>
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</center>
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==References==
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[http://www.youtube.com/watch?v=8uaaF83eVig&feature=related With apologies to ''Home Movies'']<br>
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[http://www.math.sc.edu/~olmoj/heisfranzkafka.html Lyrics]

Revision as of 21:30, November 26, 2008

You who will block me whoever you are, please try and get the message to Andrew Schlafly. This wiki needs more truth and less conservative deceit. That way tey vandals will respect the site more and vandalize less. Really, I mean it!


ROCK OPERA FOR ANDY SCHLAFLY

HAPPY BIRFDAY
CHORUS:

He is teh Assfly! Teh Assfly!
Be careful if you get him pissed!
Ass! Teh Assfly!
He’ll smite you with home schooling fists!
Writing all he can, he’s just an ass,
a wiki-er of words making a mess!
He went to Harvard Law,
he’s dull, a major flaw
Born in 1961, weaned in 1994!
He is teh Assfly!

NARRATOR (Spoken):
Oh look, but there he is, what will he say?

TEH ASSFLY:
I’m a lonely Schlafly, a lonely Schlafly from Phyl!
I wonder what I’ll write about? I think I’ll write about gays!

CHORUS:
Assfly! Assfly! Assfly!

TEH ASSFLY:
I don't know what's wrong with me, I think I've turned into a bug!
I see Bugler! What? I see I think I’ve turned into a bug!
I ain't got no common sense, I think I've turned into a bug!
Bet you fifty dollars I'm a man, I'm a lawyer, and I've turned into a bug!
Phyllis like my daddy, I'm her baby, still a baby, like I've turned into a bug!
Yeah! Yeah!

CHORUS:
He is teh Assfly!

TEH ASSFLY:
Living like an ass ain't easy!
My Wiki don't seem to need me!
It's gathered up all these huge jerks,
I don't really know 'bout their work
I don't want no vandalizing,
No, I'm just not sympathizing!
Living like an ass ain't easy!
Living like an ass ain't easy!

JIMBO WALES (Spoken):
Welcome to Wikipedia, Assfly! My name is Jimbo! I don't think you're going to like it here!

CHORUS:
He is teh Assfly!

References

With apologies to Home Movies
Lyrics

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