Named after John Hicks, Hicks optimality is a measure of efficiency. An outcome of a game is Hicks optimal if there is no other outcome that results in greater total payoffs for the players.
Thus, a Hicks optimal outcome is always the point at which total payoffs across all players is maximized. A Hicks optimal outcome is always Pareto optimal.
updated: 15 August 2005
HOW TO CITE THIS ENTRY
- To learn more:
- See news articles on normal-form games.