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Simple English definitions for legal terms

Pareto superiority

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A quick definition of Pareto superiority:

Term: Pareto superiority

Definition: Pareto superiority is when an exchange happens that makes someone better off without making anyone else worse off. If this is not possible anymore, it becomes Pareto optimality. Basically, it means finding a way for everyone to be happy without hurting anyone else.

A more thorough explanation:

Definition: Pareto superiority is an economic concept that refers to a situation where an exchange can be made that benefits at least one person without harming anyone else. Once such an exchange is no longer possible, the situation becomes Pareto optimal.

Example: Suppose there are two people, A and B, who each have a certain amount of money. A has $100 and B has $50. A is willing to pay $75 for a rare book that B owns, and B is willing to sell it for $60. If A buys the book from B for $60, both parties benefit. A gets the book he wants and B gets $60, which is more than the book is worth to him. This is an example of Pareto superiority because the exchange benefits both parties without harming anyone else.

Another example of Pareto superiority is when a company hires a new employee who is more productive than the previous one. The new employee benefits from the job, and the company benefits from the increased productivity. No one else is harmed by this exchange.

In both examples, the exchange benefits at least one person without harming anyone else, making it an example of Pareto superiority.

Pareto optimality | pari causa, in

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10:36
that would be more interesting
NosyBeagle
10:38
@NemoPropheta: LSAT haters unite. This test sucks butt
10:43
I got 2 weeks left of this shit and I have 0 motivation
10:55
@RasheedWallaceFan: yeah for some reason SMU isnt listed on any of the rankings lists. Been that way all year
@NemoPropheta: you only got another 40+ years of it!
@PremiumFrequentCrane Is right.
You'll forever have those days where shit ain't getting done. Just a matter of how you handle them. (IE using Chatgpt to draft a motion for leave like meeeee)
NosyBeagle
13:52
look at my lawyer dawg... im going to jail
Nah, I don't use it to do my case law. Just the actual motion drafting.
For example, I was trying to get the right language in a Motion for Sanctions (tl;dr slip and fall case, defense counsel played nothing but games – IE never sending records despite it being mandatory to trcp, producing never before seen records DURING A DEPO) and just talked to ChatGPT about his behavior to provide background to help with the drafting for the procedural paragraph.
@NosyBeagle: just makes me think of vanillamace
@TiredOfThisGrandpa: I dont have LSD+ so cant dm but will def hit you up when I have them done! Also is ur username a reference to holes? lol
Can i get accommodations for mid test 2 hour nap
I mean, i have sadhd
15:34
you could get accommodations for the schizoaffective disorder you clearly have
NosyBeagle
15:53
a two hour nap in between sections would be great for me
ronniedoeslaw
15:58
LSAT isn’t horrible you just have to lock in really hard for 2 hours and expect to be exhausted the rest of the day mentally
16:30
ugh i hit this lady w my car
16:31
well i hit her car and the cops said there's no damage but she says there is should i call my insurance what u think lawyers
real quick question. How much do early applications matter? I have super strong softs and an ok LSAT score of 160. GPA wasn't great at 3.33. I applied in late march and I have been rejected everywhere so far
16:58
late march is way too late
16:58
early doesn’t matter but before thanksgiving matters
ronniedoeslaw
16:59
Have you used the LSAC search for schools link? It helps a lot letting you know the probability of acceptance.
I mean early early might be overblown but dont apply if you are applying in march
does anyone know how many questions they typically ask for the UT recorded interview
20:21
has anyone been accepted off of the waitlist for New England yet?
ronniedoeslaw
20:36
No yet for me, I was waitlisted on Monday
ronniedoeslaw
20:36
Not *
[deleted by esoterica]
don't be a dick bro
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