IDEAS home Printed from https://ideas.repec.org/a/wsi/igtrxx/v08y2006i01ns0219198906000825.html
   My bibliography  Save this article

Proportionality And Non-Manipulability In Bankruptcy Problems

Author

Listed:
  • JUAN D. MORENO-TERNERO

    (Universidad de Málaga and CORE, Université catholique de Louvain, 34 Voie du Roman Pays, 1348 Louvain-la-Neuve, Belgium)

Abstract

We explore the relationship between proportionality and manipulation (via merging or splitting agents' claims) in bankruptcy problems. We provide an alternative proof to the well-known result that, in an unrestricted domain, immunity to manipulation is equivalent to requiring proportional division. We show that this result also holds for restricted (but sufficiently rich) domains, such as the domain of simple problems and the domain of zero-normalized problems. Finally, we characterize two adjustments of the proportional rule by combining non-manipulabilty on these domains and the usual axioms of independence of claims truncation and composition from minimal rights.

Suggested Citation

  • Juan D. Moreno-Ternero, 2006. "Proportionality And Non-Manipulability In Bankruptcy Problems," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 127-139.
    • Handle: RePEc:wsi:igtrxx:v:08:y:2006:i:01:n:s0219198906000825
    DOI: 10.1142/S0219198906000825
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0219198906000825
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0219198906000825?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. -, 2005. "К 75-Летию Г. Ф. Пешкова," Экономика региона, CyberLeninka;Федеральное государственное бюджетное учреждение науки «Институт экономики Уральского отделения Российской академии наук», issue 1, pages 162-163.
    2. -, 2005. "С. А. Бартеневу 80 Лет," Российский внешнеэкономический вестник, CyberLeninka;Государственное образовательное учреждение Высшего профессионального образования Всероссийская академия внешней торговли Минэкономразвития России, issue 6, pages 1-80.
    3. -, 2005. "А. И. Бельчуку 75 Лет," Российский внешнеэкономический вестник, CyberLeninka;Государственное образовательное учреждение Высшего профессионального образования Всероссийская академия внешней торговли Минэкономразвития России, issue 7, pages 1-80.
    4. -, 2005. "Clasificador de productos de Cuba," Sede Subregional de la CEPAL en México (Estudios e Investigaciones) 42377, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pedro Calleja & Francesc Llerena, 2023. "Proportional clearing mechanisms in financial systems: an axiomatic approach," UB School of Economics Working Papers 2023/442, University of Barcelona School of Economics.
    2. Emin Karagözoğlu, 2014. "A noncooperative approach to bankruptcy problems with an endogenous estate," Annals of Operations Research, Springer, vol. 217(1), pages 299-318, June.
    3. Ju, Biung-Ghi, 2013. "Coalitional manipulation on networks," Journal of Economic Theory, Elsevier, vol. 148(2), pages 627-662.
    4. Péter Csóka & P. Jean-Jacques Herings, 2023. "An Axiomatization of the Pairwise Netting Proportional Rule in Financial Networks," CERS-IE WORKING PAPERS 2301, Institute of Economics, Centre for Economic and Regional Studies.
    5. Péter Csóka & P. Jean-Jacques Herings, 2021. "An Axiomatization of the Proportional Rule in Financial Networks," Management Science, INFORMS, vol. 67(5), pages 2799-2812, May.
    6. Alfredo Valencia-Toledo & Juan Vidal-Puga, 2020. "Reassignment-proof rules for land rental problems," International Journal of Game Theory, Springer;Game Theory Society, vol. 49(1), pages 173-193, March.
    7. Takayuki Oishi, 2018. "Legal and Political Agreements for Sharing International Rivers with Water Shortage," Discussion Papers 39, Meisei University, School of Economics.
    8. Calleja, Pedro & Llerena, Francesc & Sudhölter, Peter, 2023. "Remarks on solidarity in bankruptcy problems when agents merge or split," Mathematical Social Sciences, Elsevier, vol. 125(C), pages 61-64.
    9. Teresa Estañ & Natividad Llorca & Ricardo Martínez & Joaquín Sánchez-Soriano, 2020. "Manipulability in the cost allocation of transport systems," ThE Papers 20/08, Department of Economic Theory and Economic History of the University of Granada..
    10. Calleja, Pedro & Llerena, Francesc & Sudhölter, Peter, 2021. "On manipulability in financial systems," Working Papers 2072/534916, Universitat Rovira i Virgili, Department of Economics.
    11. Valencia-Toledo, Alfredo & Vidal-Puga, Juan, 2015. "Non-manipulable rules for land rental problems," MPRA Paper 67334, University Library of Munich, Germany.
    12. Thomson, William, 2015. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: An update," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 41-59.
    13. Pedro Calleja & Francesc Llerena, 2022. "Non-manipulability by clones in bankruptcy problems," UB School of Economics Working Papers 2022/426, University of Barcelona School of Economics.
    14. Sudhölter, Peter & Calleja, Pedro & Llerena, Francesc, 2023. "A note on solidarity in bankruptcy problems when agents merge or split," Discussion Papers on Economics 1/2023, University of Southern Denmark, Department of Economics.
    15. Arantza Estévez-Fernández & Peter Borm & Herbert Hamers, 2012. "A Note On Passepartout Problems," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 14(02), pages 1-9.
    16. Karol Flores-Szwagrzak & Jaume García-Segarra & Miguel Ginés-Vilar, 2020. "Priority and proportionality in bankruptcy," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 54(4), pages 559-579, April.
    17. Calleja, Pedro & Llerena, Francesc, 2022. "Non-manipulability by clones in bankruptcy problems," Economics Letters, Elsevier, vol. 221(C).
    18. Doudou Gong & Genjiu Xu & Xuanzhu Jin & Loyimee Gogoi, 2022. "A sequential partition method for non-cooperative games of bankruptcy problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 30(2), pages 359-379, July.
    19. Csóka, Péter, 2017. "Az arányos csődszabály karakterizációja körbetartozások esetén [The characterization of the proportional rule in the case of circular liabilities]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 930-942.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      More about this item

      Keywords

      Bankruptcy problems; proportional allocation; manipulation via merging or splitting; axiomatic characterizations; JEL Classification Code: D63;
      All these keywords.

      JEL classification:

      • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
      • C0 - Mathematical and Quantitative Methods - - General
      • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
      • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
      • D5 - Microeconomics - - General Equilibrium and Disequilibrium
      • D7 - Microeconomics - - Analysis of Collective Decision-Making
      • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

      Statistics

      Access and download statistics

      Corrections

      All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:igtrxx:v:08:y:2006:i:01:n:s0219198906000825. See general information about how to correct material in RePEc.

      If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

      If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

      For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/igtr/igtr.shtml .

      Please note that corrections may take a couple of weeks to filter through the various RePEc services.

      IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.