Although the standard trading arbitrage model provides with simple settings and adjustment mechanisms so as to take profit whenever an arbitrage opportunity comes up, empirical evidence has been piling up showing that this point of view suffers from many downsides, leaving distinctive issues...

Since A Theory of Justice came up in 1971, the metaphor of the Original Position has brought up not only a nurturing debate but also enduring criticism. Rawls himself contended that the Original Position was merely an hypothetical expository device to build up a foundational environment where a...