New answers tagged pareto-efficiency
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Utility Possibility Set and Utility Possibility Frontier
Given a pure-exchange economy:
$u_1(x_1,y_1)=\max(x_1,y_1)$, $\omega_1=(4,0)$
$u_2(x_2,y_2)=\min(2x_2+y_2,x_2+2y_2)$, $\omega_2=(0,3)$
Set of feasible allocations is given by
$\mathcal{F}=\{((x_1,...
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