Journal of Political Economy, Vol. 81, No. 2, Part 1 (Mar. - Apr., 1973), pp. 386-400 (15 pages) An argument by Buchanan that the criterion of Pareto optimality is of little value when used solely ...

Biological systems that perform multiple tasks face a fundamental trade-off: A given phenotype cannot be optimal at all tasks. Here we ask how trade-offs affect the range of phenotypes found in nature ...

The budget presented by Chief Minister Basavaraj Bommai is an exercise between pareto optimality and arrows impossibility. The Pareto optimality is to satisfy all without hurting others, whereas the ...

Achieving Pareto Optimality in a Budget is often hard — a situation where no one is worse off, and some are better off. This has been attained by the Finance Minister this time because one of the ...

One of the founders of neoclassical economics in the late 19th century was the Italian economist and sociologist Vilfredo Pareto. It might seem that the musings of a neoclassical economist over a ...

Optimal risk management and reinsurance design constitute a pivotal nexus in the modern insurance landscape, integrating advanced mathematical models, economic equilibrium theories and practical ...