Live briefing
Everything about Economic efficiency
Situation in which nothing can be improved without something else being hurt
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts:Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. Wikipedia →
🧭 Start here: a 6-step reading path
- Read the overview: Economic efficiencyA 5-minute orientation
- Skim a recent paper: Digital economy, energy efficiency, and carbon emissions: Evidence from provincial panel data in ChinaInfluential work since 2022
- Pick up a classic book: The engineers and the price systemThe most-reprinted book on the subject
- Read the landmark paper: The Atom Economy—A Search for Synthetic EfficiencyCited 4,675 times
- Go sideways: Index of economics articlesA closely related topic
- Go sideways: Allocative efficiencyA closely related topic
📖 Definitions
No dictionary entry for this exact phrase.
🗂️ The subject at a glance
🏆 Landmark papers (most cited)
The Atom Economy—A Search for Synthetic Efficiency
Economic Efficiency in Cooperatives
Hospital closure and economic efficiency
On measuring economic efficiency
Information and economic efficiency
Ecological pricing and economic efficiency
Economic Efficiency Versus Egalitarian Rights
Economic efficiency v energy efficiency
🆕 Influential since 2022
Digital economy, energy efficiency, and carbon emissions: Evidence from provincial panel data in China
Does logistics efficiency matter? Evidence from green economic efficiency side
The economic efficiency of aid targeting
Economic growth and labor investment efficiency
Economic content of the enterprises efficiency
📚 Books worth reading
The engineers and the price systemThorstein Veblen · 1921
One year to an organized lifeRegina Leeds · 2007
The AdvantagePatrick Lencioni · 2012
The Moonshine WarElmore Leonard · 1969
The team handbookPeter R. Scholtes, Brian L. Joiner · 1988
Fast Fashion SystemsTsan-Ming Choi · 2013- 📕We Too Can ProsperGraham Hutton · 1953
Bengal industries and the British industrial revolution (1757-1857)Indrajit Ray · 2010
Ranked by number of editions on Open Library, a rough measure of how lasting a book is.
🔗 Related topics
- Index of economics articles Contents: Top 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z This aims to be a complete article list of economics topics: Absence rate – Accountancy…
- 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…
- Production-possibility frontier In microeconomics, a production-possibility frontier (PPF), production-possibility curve (PPC), or production-possibility boundary (PPB) is a graphical…
- Welfare economics Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. The principles…
- Schools of economic thought In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies…
- Neoclassical synthesis The neoclassical synthesis (NCS), or neoclassical–Keynesian synthesis, is an academic movement and paradigm in economics that worked towards reconciling…
- Neoclassical economics Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as…
- Microeconomics Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources…