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Convergence under replication of rules to adjudicate conflicting claims

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  • Chun, Youngsub
  • Thomson, William

Abstract

We study the behavior of rules for the adjudication of con°icting claims when there are a large number of claimants with small claims. We model such situations by replicating some basic problem. We show that under replication, the random arrival rule (O'Neill, 1982) behaves like the proportional rule, the rule that is the most often recommended in this context. Also, under replication, the minimal overlap rule (O'Neill, 1982) behaves like the constrained equal losses rule, the rule that selects a division at which all claimants experience equal losses subject to no-one receiving a negative amount.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 50 (2005)
Issue (Month): 2 (February)
Pages: 129-142

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Handle: RePEc:eee:gamebe:v:50:y:2005:i:2:p:129-142

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Web page: http://www.elsevier.com/locate/inca/622836

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References

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  1. Thomson, William, 1988. "A study of choice correspondences in economies with a variable number of agents," Journal of Economic Theory, Elsevier, vol. 46(2), pages 237-254, December.
  2. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
  3. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
  4. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
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Cited by:
  1. BOSMANS, Kristof & SCHOKKAERT, Erik, . "Equality preference in the claims problem: a questionnaire study of cuts in earnings and pensions," CORE Discussion Papers RP -2166, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Thomson, William & Yeh, Chun-Hsien, 2008. "Operators for the adjudication of conflicting claims," Journal of Economic Theory, Elsevier, vol. 143(1), pages 177-198, November.
  3. William Thomson, 2012. "Lorenz rankings of rules for the adjudication of conflicting claims," Economic Theory, Springer, vol. 50(3), pages 547-569, August.
  4. William Thomson, 2007. "Two families of rules for the adjudication of conflicting claims," RCER Working Papers 535, University of Rochester - Center for Economic Research (RCER).
  5. José Alcalde & María Carmen Marco-Gil & José Silva-Reus, 2014. "The minimal overlap rule: restrictions on mergers for creditors’ consensus," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 22(1), pages 363-383, April.
  6. Diego Dominguez & William Thomson, 2006. "A new solution to the problem of adjudicating conflicting claims," Economic Theory, Springer, vol. 28(2), pages 283-307, 06.
  7. Kristof Bosmans & Luc Lauwers, 2011. "Lorenz comparisons of nine rules for the adjudication of conflicting claims," International Journal of Game Theory, Springer, vol. 40(4), pages 791-807, November.
  8. LUTTENS, Roland Iwan, 2010. "Lower bounds rule!," CORE Discussion Papers 2010069, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Alcalde, Jose & Marco-Gil, María del Carmen & Silva, José A., 2010. "Merging and Going Bankrupt: A Neutral Solution," MPRA Paper 28339, University Library of Munich, Germany.
  10. José Alcalde & María Marco & José Silva, 2008. "The minimal overlap rule revisited," Social Choice and Welfare, Springer, vol. 31(1), pages 109-128, June.

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