Sign in
Please select an account to continue using cracku.in
↓ →
According to the Pareto Criterion, a movement from state A to state B is desirable:
if all agents are at least as well off in B as they were in A and at least one of them is better off.
if all agents are at least as well off in B as they were in A and no one is better off.
if the agent with lower welfare are found to improve their welfare in B in comparison to A even when those with higher level of welfare in A are found to witness decline in welfare.
if in B all the agents are having lower difference in their level of utilities
Create a FREE account and get:
Terms of Service
CAT Formulas PDF CAT Syllabus PDF CAT Study Plan PDF Cracku Brochure VARC Cheat Sheet MBA Handout PDF
Join cracku.in for Expert Guidance.