Pareto boundary

A Pareto boundary refers to the set of optimal solutions in a multi-objective optimization problem where no solution can be improved in one objective without sacrificing performance in another.

In simpler terms, imagine you have multiple objectives or criteria to optimize, but improving one criterion comes at the cost of worsening another. The Pareto boundary represents the trade-offs between these objectives. Points on the Pareto boundary are considered Pareto efficient or non-dominated, meaning there is no better solution in terms of all objectives simultaneously.

For example, in product design, you might want to optimize for both cost and performance. The Pareto boundary would represent the set of designs where no design is cheaper without sacrificing performance or vice versa.

Understanding the Pareto boundary is crucial for decision-making in complex systems where multiple conflicting objectives need to be considered simultaneously.

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