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The Win-Win-Win Papakonstantinidis Model: from Social Welfares Philosophy towards a Rural Development Concept by Rural Tourism Approach: The WERT Case Study

Author

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  • Papakonstantinidis L.A

    (Emeritus Professor of Political Economy, High Training Educational Institute (HTEI), Greece)

Abstract

The article is dealing with two interconnected problems based on the conjectures: a) social welfare is a condition for rural development and not the prerequisite for it; b) shape a new landscape (the win-win-win) based on critique of the Impossibility Theorem (Kenneth Arrow 1951) through the Nash Bargaining Solution (Nash, John 1950). Specifically, this article discusses and analyses social welfare and rural development objectives integrating elements from the impossibility theorem, the bargaining theory, and the theory of agency by (a) reviewing the literature on coordination social welfare and rural development (b) reversing the focus from voting to bargaining and (c) underlining that Social choice is the perquisite of social welfare, using the win-win-win Papakonstantinidis models solution as the bridge between voting(Arrow) and bargaining(proposal). This solution highlights the Role of Rural Community as an Aggregation corresponding to its sensitization process.

Suggested Citation

  • Papakonstantinidis L.A, 2017. "The Win-Win-Win Papakonstantinidis Model: from Social Welfares Philosophy towards a Rural Development Concept by Rural Tourism Approach: The WERT Case Study," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 3(5), pages 7-25, December.
    • Handle: RePEc:mgs:ijoied:v:3:y:2017:i:5:p:7-25
    DOI: 10.18775/ijied.1849-7551-7020.2015.35.2001
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    More about this item

    Keywords

    Win-win-win Papakonstantinidis model; Social choice; Social welfare; Social utilitys equilibrium; Rural tourism local development; Community; Moral local aggregation;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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