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The Nucleolus Of The Bankruptcy Problem By Hydraulic Rationing


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    (Budapest University of Technology and Economics, Department of Computer Science and Information Theory, H-1117 Budapest, Magyar tudósok körútja 2, Hungary)


    (Institute of Economics, Research Center for Economic and Regional Studies, Hungarian Academy of Sciences, H-1112, Budapest, Budaörsi út 45, Hungary)


In this note, we give a straightforward and elementary proof of a theorem by Aumann and Maschler stating that in the well-known bankruptcy problem, the so-called CG-consistent solution described by the Talmud represents the nucleolus of the corresponding coalitional game. The proof nicely fits into the hydraulic rationing framework proposed by Kaminski. We point out further interesting properties in connection with this framework.

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Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 14 (2012)
Issue (Month): 01 ()
Pages: 1250007-1-1250007-11

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Handle: RePEc:wsi:igtrxx:v:14:y:2012:i:01:p:1250007-1-1250007-11

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Keywords: Bankruptcy problem; Talmud rule; nucleolus; hydraulic rationing;

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Cited by:
  1. William Thomson, 2013. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update," RCER Working Papers 578, University of Rochester - Center for Economic Research (RCER).


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