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Generalized bankruptcy problem

Author

Listed:
  • Alexander Karpov

    (National Research University Higher School of Economics, Department of Economics; International Laboratory of Decision Choice and Analysis.)

  • Semyon Yurkov

    (University of Trento, Department of Mathematics.)

Abstract

A new approach to the bankruptcy problem is considered. We take into account the system of intercreditor debts. The traditional approach is a special case of our generalized model. Utilizing a cooperative game approach we prove the core existence of the corresponding game. The sequential nucleolus solution is applied.

Suggested Citation

  • Alexander Karpov & Semyon Yurkov, 2012. "Generalized bankruptcy problem," HSE Working papers WP BRP 08/FE/2012, National Research University Higher School of Economics.
    • Handle: RePEc:hig:wpaper:08/fe/2012
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    File URL: http://www.hse.ru/data/2012/11/27/1301419605/08FE2012.pdf
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    References listed on IDEAS

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    Cited by:

    1. Adegbemi Babatunde Onakoya & Ayooluwa Eunice Olotu, 2017. "Bankruptcy and Insolvency: An Exploration of Relevant Theories," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 706-712.

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    More about this item

    Keywords

    bankruptcy problem; sequential nucleolus.;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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