Source: wikibot/pareto-efficiency
= Pareto efficiency
{wiki=Pareto_efficiency}
Pareto efficiency, also known as Pareto optimality, is an economic concept that describes a situation in which resources are allocated in a way that no reallocation can make one individual better off without making at least one other individual worse off. In simpler terms, an allocation is Pareto efficient if there are no possible changes that could improve someone's situation without harming someone else's situation.