ParetoOptimal

MeatballWiki | RecentChanges | Random Page | Indices | Categories

Some problems do not have a definitive solution, but have to consider trade-offs. eg. hardware design: It's easy to build small-and-slow or big-and-fast computers for the same money, but costly to build small-and-fast ones. All three alternatives are ParetoOptimal: no solution exists which is better in all aspects.

The concept is often used in connection with game-theory. The result of a game is Pareto optimal in case there is no other outcome that makes every player at least as well off and results in a better result for a mininimum of one player (group).

ParetoOptimal

Discussion