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  2. Pareto front - Wikipedia

    en.wikipedia.org/wiki/Pareto_front

    In multi-objective optimization, the Pareto front (also called Pareto frontier or Pareto curve) is the set of all Pareto efficient solutions. [ 1] The concept is widely used in engineering. [ 2]: 111–148 It allows the designer to restrict attention to the set of efficient choices, and to make tradeoffs within this set, rather than considering ...

  3. Pareto efficiency - Wikipedia

    en.wikipedia.org/wiki/Pareto_efficiency

    On a frontier of production possibilities, Pareto efficiency will happen. It is impossible to raise the output of products without decreasing the output of services when an economy is functioning on a basic production potential frontier, such as at point A, B, or C.

  4. Multi-objective optimization - Wikipedia

    en.wikipedia.org/wiki/Multi-objective_optimization

    Multi-objective optimization or Pareto optimization (also known as multi-objective programming, vector optimization, multicriteria optimization, or multiattribute optimization) is an area of multiple-criteria decision making that is concerned with mathematical optimization problems involving more than one objective function to be optimized simultaneously.

  5. Production–possibility frontier - Wikipedia

    en.wikipedia.org/wiki/Production–possibility...

    Production–possibility frontier. In microeconomics, a production–possibility frontier ( PPF ), production possibility curve ( PPC ), or production possibility boundary ( PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources ...

  6. Allocative efficiency - Wikipedia

    en.wikipedia.org/wiki/Allocative_efficiency

    Allocative efficiency. Allocative efficiency is a state of the economy in which production is aligned with the preferences of consumers and producers; in particular, the set of outputs is chosen so as to maximize the social welfare of society. [1] This is achieved if every produced good or service has a marginal benefit equal to the marginal ...

  7. Efficient frontier - Wikipedia

    en.wikipedia.org/wiki/Efficient_frontier

    With a risk-free asset, the straight capital allocation line is the efficient frontier. In modern portfolio theory, the efficient frontier (or portfolio frontier) is an investment portfolio which occupies the "efficient" parts of the risk–return spectrum. Formally, it is the set of portfolios which satisfy the condition that no other ...

  8. Robinson Crusoe economy - Wikipedia

    en.wikipedia.org/wiki/Robinson_Crusoe_economy

    A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. [1] It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is a reference to the 1719 novel of the same name authored by Daniel Defoe . As a thought experiment in economics, many international trade ...

  9. Interactive Decision Maps - Wikipedia

    en.wikipedia.org/wiki/Interactive_Decision_Maps

    Interactive Decision Maps. The Interactive Decision Maps technique of multi-objective optimization is based on approximating the Edgeworth -Pareto Hull (EPH) of the feasible objective set, that is, the feasible objective set broadened by the objective points dominated by it. Alternatively, this set is known as Free Disposal Hull.