The Coefficient of Resource Utilization

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)