Crack XAT 2025 In 1-month. Enroll in crash course by Sayali ma'am (XAT 99.998%iler)
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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
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