Pareto Efficiency Checker

Introduction to Pareto Efficiency Checker

Pareto efficiency, or Pareto optimality, is a state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off. This concept is commonly used in economics, particularly in the fields of welfare economics and game theory.

In the context of this function, the parameters represent individual options or allocations. If each option is unique and not dominated by another, the set of options is considered Pareto efficient. This formula checks for duplicates to determine if any option dominates another.

Parameter usage:

• ...options - An array of numbers representing different options or allocations.

Output:

• Returns a string indicating whether the set of options is 'Pareto efficient' or 'Not Pareto efficient'.

Data validation

The numbers should be positive, as negative values or zero do not represent valid allocations in the context of Pareto efficiency.

Summary

This function takes a set of options, expressed as numbers, and determines whether they are Pareto efficient.