Concept information
Preferred term
equity and efficiency trade-off
Definition
- EQUITY AND EFFICIENCY trade-off refers to the idea that while free markets perform quite well in producing economic efficiency, the market mechanism does not necessarily produce outcomes that a society would judge to be equitable. If a society values equity, it may be willing to sacrifice some efficiency in order to gain additional equity. [Source: Encyclopedia of World Poverty; Equity and Efficiency Trade-Off]
Broader concept
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-ZBBNLP91-V
{{label}}
{{#each values }} {{! loop through ConceptPropertyValue objects }}
{{#if prefLabel }}
{{/if}}
{{/each}}
{{#if notation }}{{ notation }} {{/if}}{{ prefLabel }}
{{#ifDifferentLabelLang lang }} ({{ lang }}){{/ifDifferentLabelLang}}
{{#if vocabName }}
{{ vocabName }}
{{/if}}