pareto

The industrial revolution was good overall, in net, but it was not a pareto improvement and people did suffer.

One common measure is Pareto efficiency, which any change to the minimum wage cannot be in isolation, as one of the criteria is that no one be made worse off.

The existence of a minimum wage also implies the existence of a Pareto optimal point.

You're suggesting that this is unusual but it's just the Pareto Principle, which applies to...

Couldn't the minimum of 2 iid rvs drawn from a pareto distribution be calculated analytically?

The feature usage of an actual product also tends to follows the Pareto Principle.

So yeah, pareto optimality is nonsense, as explained above, and so is a lot of the other stuff involved in these discussions.

No, the Pareto Principle explains why the top 20% earn 51.3% of all income.

Your supposition is that the casino industry adheres somewhat to the Pareto principal.

All equilibria would be pareto-efficient and any pareto-efficient outcome could be implemented by QV, just as in the market economy, but in the market economy as well there may be multiple equilibria with income effects.

This is an example of the Pareto Distribution, and it's entirely expected.

All of the optimal outcomes define a Pareto front, i.e.

Pareto Principle: don't treat all of your code as if it is "hot." It isn't.

We'll generate M numbers distributed like Beta and N like a Pareto (a "long tail", "black swan" distribution) with identical mean and standard deviation, and shuffle them before we interpret them as a time-series.

We're not talking about Pareto-optimal market transactions here; the externalities are the point of giving money away or not giving money away.

> It turns out winner-take-all doesn’t apply just to [...] I'd like to see someone knowledgeable look at Vilfredo Pareto's 80-20 ratio and do a modern update.