Pareto efficiency means the situation of resource allocation where the concept of 'net' is dominant. In other word, basically we need to make someone worse in order to make others better under this efficiency. To seek for the efficiency, it is necessary to build the decentralized market mechanism.
Pareto efficiency signifies a state of resource allocation where the concept of 'net' is paramount. In other words, fundamentally, we must make someone worse off to improve others under this efficiency. To achieve efficiency, it is essential to establish a decentralized market mechanism.