On the Definition of Economic Efficiency

Paul Makdissi ()

Cahiers de recherche from CIRPEE

Abstract: This 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.

Keywords: Efficiency; Social justice; Dominance (search for similar items in EconPapers)
JEL-codes: D60 H20 (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-hpe and nep-pbe
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Related works:
Working Paper: On the Definition of Economic Efficiency (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:lvl:lacicr:0644

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