The Coefficient of Resource Utilization

TLDR

The study numerically evaluates the dead loss of nonoptimal Pareto situations and introduces a coefficient of resource‑utilization to measure economic efficiency. It derives this coefficient using intrinsic price systems of optimal situations (proved without calculus) and vector‑set properties in commodity space. (Author).

Abstract

Abstract : A numerical evaluation of the 'dead loss' associated with a nonoptimal situation (in the Pareto sense) of an economic system is sought. Use is made of the intrinsic price systems associated with optimal situations of whose existence a noncalculus proof is given. A coefficient of resource-utilization yielding measures of the efficiency of the economy is introduced. The treatment is based on vector set properties in the commodity space. (Author)