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Fractionally Pareto Optimal
In economics and computer science, Fractional Pareto efficiency or Fractional Pareto optimality (fPO) is a variant of Pareto efficiency used in the setting of Fair item allocation, fair allocation of discrete objects. An allocation of objects is called ''discrete'' if each item is wholly allocated to a single agent; it is called ''fractional'' if some objects are split among two or more agents. A discrete allocation is called Pareto efficiency, Pareto-efficient (PO) if it is not Pareto-dominated by any discrete allocation; it is called fractionally Pareto-efficient (fPO) if it is not Pareto-dominated by any discrete ''or fractional'' allocation.Barman, S., Krishnamurthy, S. K., & Vaish, R., arxiv:1707.04731, "Finding Fair and Efficient Allocations", ''EC '18: Proceedings of the 2018 ACM Conference on Economics and Computation'', June 2018. So fPO is a stronger requirement than PO: every fPO allocation is PO, but not every PO allocation is fPO. Formal definitions There is a set of ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
