Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems

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Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems

Author Info

Oscar Volij (Department of Economics, Box B, Brown University, Providence, Rhode Island 02912, USA)
Nir Dagan (Department of Economics, The Hebrew University of Jerusalem, Mount Scopus, 91905 Jerusalem, Israel)

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Abstract

We analyze the problem of extending a given bilateral principle of justice to a consistent n-creditor bankruptcy rule. Based on the bilateral principle, we build a family of binary relations on the set of creditors in order to make bilateral comparisons between them. We find that the possibility of extending a specific bilateral principle of justice in a consistent way is closely related to the quasi-transitivity of the binary relations mentioned above.

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Publisher Info
Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 26 (1997)
Issue (Month): 1 ()
Pages: 11-25
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Handle: RePEc:spr:jogath:v:26:y:1997:i:1:p:11-25

Note: Received March 1994 Revised version August 1994 Final version January 1995
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Paper
- Nir Dagan & Oscar Volij, 1997. "Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems," Economic theory and game theory 004, Nir Dagan. [Downloadable!]
- Volij, Oscar & Dagan, Nir, 2002. "Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems," Staff General Research Papers 5141, Iowa State University, Department of Economics.

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