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The TAL-Family of Rules for Bankruptcy Problems

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  • Juan Moreno-Ternero
  • Antonio Villar

    ()

Abstract

This paper analyzes a family of solutions to bankruptcy problems that generalizes the Talmud rule (T) and encompasses both the constrained equal-awards rule (A) and the constrained equal-losses rule (L). We study the structural properties of this family of rules and provide a characterization result. That allows us to identify the distinctive features of these three reference rules, T, A, L.

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File URL: http://hdl.handle.net/10.1007/s00355-006-0121-3
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Bibliographic Info

Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 27 (2006)
Issue (Month): 2 (October)
Pages: 231-249

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Handle: RePEc:spr:sochwe:v:27:y:2006:i:2:p:231-249

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References

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  1. Moreno-Ternero, Juan D. & Villar, Antonio, 2004. "The Talmud rule and the securement of agents' awards," Mathematical Social Sciences, Elsevier, vol. 47(2), pages 245-257, March.
  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. Moulin, Herve, 2001. "Axiomatic Cost and Surplis-Sharing," Working Papers 2001-06, Rice University, Department of Economics.
  4. Nir Dagan, 1996. "New Characterizations of Old Bankruptcy Rules," Economic theory and game theory 002, Nir Dagan.
  5. Carmen Herrero & Antonio Villar, 2002. "Sustainability in bankruptcy problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 10(2), pages 261-273, December.
  6. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
  7. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
  8. Juan Moreno-Ternero & Antonio Villar, 2006. "New characterizations of a classical bankruptcy rule," Review of Economic Design, Springer, vol. 10(2), pages 73-84, August.
  9. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
  10. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  11. 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.
  12. Diego Dominguez & William Thomson, 2004. "A New Solution to the Problem of Adjudicating Conflicting Claims," RCER Working Papers 511, University of Rochester - Center for Economic Research (RCER).
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