Weak Efficiency

Bruce C. Dieffenbach ()
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Bruce C. Dieffenbach: Independent author

Chapter 37 in Conjugate Duality in Economic Analysis, 2026, pp 273-276 from Springer

Abstract: Abstract Whether a particular vector is weakly efficient is an important application of perturbation duality: maximize the weak-efficiency function subject to constraints. We present a weak-efficiency primal and a weak-efficiency dual. To calculate the dual and the Lagrangian and to find the primal and dual solutions provide insight into meaning of weak efficiency. A value maximization theorem applies: a vector is weakly efficient if and only if for some price greater than zero it maximizes value in the feasible set. Alternatively, a vector is weakly efficient if and only if a particular Karush-Kuhn-Tucker problem has a zero Lagrange multiplier.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-032-21396-9_37

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DOI: 10.1007/978-3-032-21396-9_37

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