Definition of Pareto in English:

Pareto

adjective

  • Denoting or involving the theories and methods of the Italian economist and sociologist Vilfredo Pareto (1848–1923), especially a formula used to express the income distribution of a society.

    • ‘Although Musgrave discussed Wicksell in an earlier article, he did not forge the link between Wicksell and the central element that was defining economics at the time - Pareto efficiency.’
    • ‘To some neoclassical economists, the Pareto criterion is the unchallengeable linchpin of welfare economics.’
    • ‘Buchanan argued that if a public good can be supplied in infra-marginal units, then with expenditure-tax pairings and bargaining within the group, any proposal adopted results in movement toward the Pareto frontier.’
    • ‘Closer to reality than pure economy, Pareto positions applied political economy.’
    • ‘By adding the asset, equilibrium jumps to the Pareto frontier, even though there are many other missing asset markets that have not been added.’
    • ‘The logical extension is that if individuals entered into agreements voluntarily, then the criterion for evaluation should be unanimous agreement (or Pareto efficiency).’
    • ‘If a state of affairs is not Pareto efficient, then society is missing an opportunity costlessly to satisfy some people's preferences better.’
    • ‘In this case the game thus has the familiar outcome, i.e., the Pareto inferior Nash equilibrium (D, D).’
    • ‘Therefore, the area EFG can be regarded both as the deadweight loss to society due to a lack of inter-regional migration, and the Pareto efficiency gain to society associated with inter-regional migration.’
    • ‘The method of constructing a Pareto chart involves the following steps.’
    • ‘Whether Wicksell even perceived taxation as an issue of Pareto efficiency is questionable.’
    • ‘Finally, we argue that if inter-State factor mobility is sufficiently high, as we believe is the case in Australia, then our reform proposal passes the Pareto test that no one is made worse off.’
    • ‘Champions of unrestricted free-market trade, meanwhile, might bear in mind that this is the very condition that generates an unequal Pareto distribution in the first place.’
    • ‘This statement misrepresents the content of these chapters, which include log-linear regressions, bounded Pareto distributions, and Green's function of the standard diffusion equation.’
    • ‘Within the set of utilitarian welfare functions was the Pareto welfare function, which demands that a policy at least not reduce the utility of anyone.’
    • ‘If we already are at a Pareto optimum, I am not convinced that coaxing even more young people away from low-skilled labor, the military, trade apprenticeships, or general slacking into college would do much for their spiritual resources.’
    • ‘Whereas the standard approaches are focused on minimizing social costs or facilitating a Pareto optimum, the approach described here is focused on minimizing interpersonal conflict.’

Pronunciation:

Pareto

/paˈriːtəʊ//paˈreɪtəʊ/