PARETO OPTIMALITY

By SovConn | October 2, 2013

Pareto optimality (p<<schwa>>-ray-toh or p<<schwa>>-ret-oh), n. An economic situation in which no person can be made better off without making someone else worse off. • The term derives from the work of Vilfredo Pareto (1848–1923), an Italian economist and sociologist. — Pareto-optimal,adj.

[Blacks Law 8th]

Posted in Law Dictionary Definitions