Overview

utility possibility frontier


Related Overviews

 

'utility possibility frontier' can also refer to...

 

More Like This

Show all results sharing this subject:

  • Economics

GO

Show Summary Details

Quick Reference

The maximum attainable levels of utility for the consumers in an economy given the economy's endowment and technology. The utility possibility frontier can be constructed by taking each Pareto-efficient allocation and plotting the utility levels of the consumers at that allocation. Varying the allocation traces out the frontier. A point below the frontier is not Pareto efficient. The social optimum is the point on the frontier that maximizes a chosen social welfare function.

Subjects: Economics.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.