Claim games for estate division problems
AbstractThis paper considers the estate division problem from a non-cooperative perspective. The integer claim game initiated by ONeill 1982 and extended by Atlamaz et al. 2011 is generalized by considering different sharing rules to divide every interval among the claimants. For problems with an estate larger than half of the total entitlements, we show that every sharing rule satisfying four fairly general axioms yields the same set of Nash equilibrium profiles and corresponding payoffs. Every rule that always results in such equilibrium payoff vector is characterized by the properties minimal rights first and lower bound of degree half. Well-known examples are the Talmud rule, the adjusted proportional rule and the random arrival rule. Then our focus turns to more specific claim games, i.e. games that use the constrained equal awards rule, the Talmud rule, or the constrained equal losses rule as a sharing rule. Also a variation on the claim game is considered by allowing for arbitrary instead of integer claims.
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Bibliographic InfoPaper provided by Maastricht : GSBE, Graduate School of Business and Economics in its series Research Memorandum with number 055.
Date of creation: 2013
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Web page: http://www.maastrichtuniversity.nl/web/UMPublications.htm
Noncooperative Games; Conflict; Conflict Resolution; Alliances;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-10-18 (All new papers)
- NEP-GTH-2013-10-18 (Game Theory)
- NEP-HPE-2013-10-18 (History & Philosophy of Economics)
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