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Pareto Optimal

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Definition: In an endowment economy, an allocation of goods to agents is Pareto Optimal if no other allocation of the same goods would be preferred by every agent. Pareto optimal is sometimes abbreviated as PO.

Optimal is the descriptive adjective, whereas optimum is a noun.

A Pareto optimal allocation is one that is a Pareto optimum. There may be only one such optimum.

(Econterms)

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