New characterizations of old bankruptcy rules
AbstractThis paper presents axiomatic characterizations of two bankruptcy rules disscused in Jewish legal literature: the Constrained Equal Awards rule and the Contested Garment principle (the latter is defined only for two-creditor problems.) A major property in these characterizations is independence of irrelevant claims, which requires that if an individual claim exceeds the total to be allocated the excess claim should be considered irrelevant.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 13 (1996)
Issue (Month): 1 (January)
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
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- Dagan, Nir & Volij, Oscar, 1993.
"The bankruptcy problem: a cooperative bargaining approach,"
Mathematical Social Sciences,
Elsevier, vol. 26(3), pages 287-297, November.
- Volij, Oscar & Dagan, Nir, 1993. "The Bankruptcy Problem: A Cooperative Bargaining Approach," Staff General Research Papers 10571, Iowa State University, Department of Economics.
- Nir Dagan & Oscar Volij, 1993. "The Bankruptcy Problem: a Cooperative Bargaining Approach," Economic theory and game theory 001, Nir Dagan.
- 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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