deadweight loss

Definitions

Economics

  • noun a reduction in consumers’ surplus caused by a fall in quantities of a product produced, especially when a monopoly producer keeps production low to maintain high prices

Health Economics

  • (written as Deadweight Loss)
    A measure of the loss of welfare resulting from misallocations of resources (i.e. inefficient allocations; ones that are not Pareto-optimal) or from taxation.
  • synonymWelfare Cost
  • synonymWelfare Loss
http://www.dictionarycentral.com/definition/deadweight-loss.html