…in which case banning the long work-hours equilibrium is fully compatible with a commitment to the Pareto principle. Unpacking Pareto optimality and Pareto improvement, as Rapoport’s model of production and…
…of the word. A Pareto improvement (making everyone better off) is interesting. The result that no Pareto improvement is possible (Pareto efficiency) isn’t interesting at all. 8: except for amazing…
…not have been a Pareto improvement. If we consider the real world, a Pareto improvement must satisfy 7 billion constraints, actually many more as the reform can’t hurt the unborn….
…Pareto improvement. In fact, for an open set of economies (definition after the jump) banning trading in a security causes a Pareto improvement. Generically, if markets are incomplete, there is…
(Dan here….lifted from Robert’s Stochastic Thoughts) A New Pareto Liberal Paradox (reposted from 2004) One of the core principles of Liberalism is that there must be equality before the law….
Via Eszter, there is one thing that is very clear from this graphic (duplicated below because I can’t figure out how to embed it): There is an excess of home-based…
…. . . Recent Quartz article on Private Label and Brand name. Private-label brands are having a moment in 2024, and it’s no coincidence that some of the biggest winners…
by cactus Forbes and the “Self-Made” Label I’m kinda busy these days, but this topic is small pet peeve of mine: what the heck is up with Forbes and the…
…have to submit articles.” Off-label use of drugs is big business. According to The Wall Street Journal, “[FDA] is stepping into a high-stakes business issue, because off-label uses of prescription…
…unreasonable cases, but if it is reasonable that the off-label use of the drug might have caused the damage, then the encouraged off-label use would lead to an assumption of…