Viewing a response to: @musing-threads/p34dxe83f
<a href="https://musing.io/q/littymumma/what-is-pareto-principle-in-the-context-of-eos-voting-system"><b>View this question on Musing.io</b></a>
| author | littymumma |
|---|---|
| permlink | fkap9msjf |
| category | musing-threads |
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<a href="https://musing.io/q/littymumma/what-is-pareto-principle-in-the-context-of-eos-voting-system">View this answer on Musing.io</a>
| author | maxwellnewlife7 |
|---|---|
| permlink | f34vn9sjp |
| category | musing-threads |
| json_metadata | "{"app":"musing/1.1","appTags":["blockchain"],"appCategory":"blockchain","appTitle":"What is Pareto principle in the context of EOS voting system?","appBody":"<p>The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity)[1][2] states that, for many events, roughly 80% of the effects come from 20% of the causes.[3] Management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who noted the 80/20 connection while at the University of Lausanne in 1896, as published in his first work, Cours d'économie politique. Essentially, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population.</p><p>It is an axiom of business management that \"80% of sales come from 20% of clients\".[4]</p><p>Mathematically, the 80/20 rule is roughly followed by a power law distribution (also known as a Pareto distribution) for a particular set of parameters, and many natural phenomena have been shown empirically to exhibit such a distribution.[5]</p><p>The Pareto principle is only tangentially related to Pareto efficiency. Pareto developed both concepts in the context of the distribution of income and wealth among the population.</p>","appDepth":2,"appParentPermlink":"fkap9msjf","appParentAuthor":"littymumma","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
| created | 2019-06-25 19:03:57 |
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<a href="https://musing.io/q/littymumma/what-is-pareto-principle-in-the-context-of-eos-voting-system">View this answer on Musing.io</a>
| author | maxwellnewlife7 |
|---|---|
| permlink | fkl52lsjf |
| category | musing-threads |
| json_metadata | "{"app":"musing/1.1","appTags":["blockchain"],"appCategory":"blockchain","appTitle":"What is Pareto principle in the context of EOS voting system?","appBody":"<p>The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity)[1][2] states that, for many events, roughly 80% of the effects come from 20% of the causes.[3] Management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who noted the 80/20 connection while at the University of Lausanne in 1896, as published in his first work, Cours d'économie politique. Essentially, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population.</p><p>It is an axiom of business management that \"80% of sales come from 20% of clients\".[4]</p><p>Mathematically, the 80/20 rule is roughly followed by a power law distribution (also known as a Pareto distribution) for a particular set of parameters, and many natural phenomena have been shown empirically to exhibit such a distribution.[5]</p><p>The Pareto principle is only tangentially related to Pareto efficiency. Pareto developed both concepts in the context of the distribution of income and wealth among the population.</p>","appDepth":2,"appParentPermlink":"fkap9msjf","appParentAuthor":"littymumma","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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