On the Definition of Economic Efficiency

Paul Makdissi ()

Cahiers de recherche from Departement d'économique de l'École de gestion à l'Université de Sherbrooke

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: D63 H20 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2006
New Economics Papers: this item is included in nep-pbe
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http://gredi.recherche.usherbrooke.ca/wpapers/GREDI-0624.pdf First version, 2006 (application/pdf)

Related works:
Working Paper: On the Definition of Economic Efficiency (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:shr:wpaper:06-24

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