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The Equity-Efficiency Relationship: the Double Criterion versus Pareto-Efficiency

Author

Listed:
  • Segii Arkhiiereiev
  • Gerhard Schwödiauer

    (Faculty of Economics and Management, Otto-von-Guericke University Magdeburg)

Abstract

The paper is devoted to the analysis of the equity-efficiency relationship from the standpoint of the proposed double criterion of efficiency as opposed to the criterion of Pareto-efficiency. The equity-efficiency relationship with an extremum, obtained in the paper exceeds the boundaries of the traditional approach to this problem. Empirical verification of the proposed model shows that it corresponds to the facts much better than the traditional equity-efficiency trade-off model.

Suggested Citation

  • Segii Arkhiiereiev & Gerhard Schwödiauer, 2008. "The Equity-Efficiency Relationship: the Double Criterion versus Pareto-Efficiency," FEMM Working Papers 08038, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
    • Handle: RePEc:mag:wpaper:08038
    as

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    File URL: http://www.ww.uni-magdeburg.de/fwwdeka/femm/a2008_Dateien/2008_38.pdf
    File Function: First version, 2008
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    More about this item

    Keywords

    equity-efficiency trade-off; Pareto-efficiency; double criterion of efficiency.;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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