AOL Web Search

Vilfredo Pareto, (born July 15, 1848, Paris, France—died August 19, 1923, Geneva, Switzerland), Italian economist and sociologist who is known for his theory on mass and elite interaction as well as for his application of mathematics to economic analysis.

Vilfredo Federico Damaso Pareto, (July 15, 1848 – August 19, 1923) was an Italian economist, sociologist, and philosopher. Trained in engineering, Pareto applied mathematical tools to economic analyses. While he was not effective in promoting his findings during his lifetime, moving on to sociological theorizing, Pareto's work, particularly ...

The Pareto Principle, named after economist Vilfredo Pareto, specifies that 80% of consequences come from 20% of the causes, asserting an unequal relationship between inputs and outputs. This...

Vilfredo Pareto. P areto is best known for two concepts that are named after him. The first and most familiar is the concept of Pareto optimality. A Pareto-optimal allocation of resources is achieved when it is not possible to make anyone better off without making someone else worse off.

The Pareto principle was developed by Italian economist Vilfredo Pareto in 1896. Pareto observed that 80% of the land in Italy was owned by only 20% of the population. He also witnessed this happening with plants in his garden—20% of his plants were bearing 80% of the fruit.

Pareto-optimality, a concept of efficiency used in the social sciences, including economics and political science, named for the Italian sociologist Vilfredo Pareto. A state of affairs is Pareto-optimal (or Pareto-efficient) if and only if there is no alternative state that would make some people better off without making anyone worse off.

Management consultant Joseph M. Juran developed the concept in the context of quality control and improvement after reading the works of Italian sociologist and economist Vilfredo Pareto, who wrote about the 80/20 connection while teaching at the University of Lausanne.

Vilfredo Federico Damaso Pareto (/ p ə ˈ r ɛ t oʊ /; Italian: [vilˈfreːdo paˈreːto]; born Wilfried Fritz Pareto, 15 July 1848 – 19 August 1923) was an Italian engineer, sociologist, economist, political scientist, and philosopher.