Purpose - In 1951, Kenneth Arrow proved that it is not possible to have a group decision-making procedure that satisfies reasonable requirements like fairness. From the theoretical viewpoint, this is a great result - welldeserving the Nobel Prize that was awarded to Professor Arrow. However,...

Sustainability is a fairly old concept, born in the 18th century in the field of forestry, within a mono-functionality perspective. The concept has considerably evolved in the last few years towards a multi-functionality context, with applications reported in practically all areas of economic...

The authors developed a political economy equilibrium framework for personal income distribution. In the beginning, they set up a theoretical model which was rooted in status theory. With this concept, one may explain a certain or optimal degree of inequality in society and define a steady state...