Lang, Günther2019-11-292019-11-291996-11Lang, Günther, Endogenous Fertility and Modified Pareto-Optimality (November, 1996). FEUNL Working Paper Series No. 288http://hdl.handle.net/10362/88729In a world of endogenous fertility, the traditional concept of Pareto-optimality does not make sense any longer: the number of individuals present on earth may vary with two allocations to be compared. There-fore, the concept needs some modification in order to give new life to the discussion of economic efficiency. This work introduces and discusses a rectification of the Pareto-principle, and it characterises economic allocations according to this new idea. The fiscal implications of an application of Modified Pareto-Optimality are explained, as well as the consequences for empirical research on dynamic efficiency.engworking paper