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Simple English definitions for legal terms

Pareto optimality

Read a random definition: obligatio quasi ex delicto

A quick definition of Pareto optimality:

Pareto optimality is a situation in economics where nobody can be made better off without making someone else worse off. This means that if we try to improve one person's situation, it will come at the expense of another person's situation. The term comes from an Italian economist and sociologist named Vilfredo Pareto.

A more thorough explanation:

Pareto optimality is an economic concept that refers to a situation where no individual can be made better off without making someone else worse off. This means that any change that benefits one person must come at the expense of another person.

The term comes from the work of Vilfredo Pareto, an Italian economist and sociologist who studied the distribution of wealth and income in society.

One example of Pareto optimality is the distribution of resources in a society. If a government decides to allocate more resources to one group of people, it may come at the expense of another group. For example, if a government decides to increase funding for education, it may have to cut funding for other programs like healthcare or infrastructure.

Another example is the labor market. If an employer decides to increase wages for one group of workers, it may have to lay off other workers or cut back on benefits to maintain profitability.

These examples illustrate the concept of Pareto optimality because any change that benefits one group of people must come at the expense of another group. In other words, there is no way to make everyone better off without making someone worse off.

pares regni | Pareto superiority

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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