Allocational efficiency is a benchmark of economic success as it identifies how well all available resources are distributed in an economy. It is an important concept because it works to ensure all actors are getting the most out of their resources. Informationally efficiency ensures that people are, in the ideal, able to make decisions with perfect knowledge of what is available in the market. Traditionally, this type of efficiency was managed by governments through regulations and subsidies.

Despite the importance of allocational efficiency, there are often situations where a market is not as efficient as it could be. Many of these more inefficient situations occur when either actors in the market do not posses perfect knowledge of what products and services are available, or when transactions are predatory or otherwise exploited.

In order to increase allocational efficiency, governments often turn to traditional market solutions like taxes and subsidies. Through these mechanisms, the government can create incentives for businesses and individuals to act in accordance with the desires of the market. This method can handle information asymmetry, where one actor does have access to more market information than the other.

An even more market-oriented solution is for actors in the market to create perfect information through information sharing. This can be done through increased platforms, from web-based to inter-organizational. Through platforms like these, actors can more easily access and share the information they need to optimize their resource allocation.

In the end, allocational efficiency is an important concept for achieving true economic success. It works to ensure that the resources available are properly utilized and that markets are operating like the ideal. Governments and market actors alike should strive to make sure they are creating an allocationally efficient system, through traditional policies and more market-oriented solutions.