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The TAL-family or rules for bankruptcy problems

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  • MORENO-TERNERO, Juan D.
  • VILLAR, Antonio

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://dx.doi.org/10.1007/s00355-006-0121-3
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -1897.

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Handle: RePEc:cor:louvrp:-1897

Note: In : Social Choice Welfare, 27, 231-249, 2006
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  1. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, Elsevier, vol. 36(2), pages 195-213, August.
  2. Nir Dagan, 1996. "New Characterizations of Old Bankruptcy Rules," Economic theory and game theory, Nir Dagan 002, Nir Dagan.
  3. Diego Dominguez & William Thomson, 2006. "A new solution to the problem of adjudicating conflicting claims," Economic Theory, Springer, Springer, vol. 28(2), pages 283-307, 06.
  4. Moulin, Herve, 2001. "Axiomatic Cost and Surplis-Sharing," Working Papers, Rice University, Department of Economics 2001-06, Rice University, Department of Economics.
  5. MORENO-TERNERO, Juan D. & VILLAR, Antonio, . "New characterizations of a classical bankruptcy rule," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -1926, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, Elsevier, vol. 2(4), pages 345-371, June.
  7. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, Elsevier, vol. 42(3), pages 307-328, November.
  8. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, Econometric Society, vol. 68(3), pages 643-684, May.
  9. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, Elsevier, vol. 2(3), pages 244-263, September.
  10. Moreno-Ternero, Juan D. & Villar, Antonio, 2004. "The Talmud rule and the securement of agents' awards," Mathematical Social Sciences, Elsevier, Elsevier, vol. 47(2), pages 245-257, March.
  11. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, Econometric Society, vol. 47(2), pages 263-91, March.
  12. Carmen Herrero & Antonio Villar, 2002. "Sustainability in bankruptcy problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, Springer, vol. 10(2), pages 261-273, December.
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