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The Proportional Rule for Multi-Issue Bankruptcy Problems

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  • Juan D. Moreno-Ternero

    ()
    (U. de Málaga, Universidad Pablo de Olavide y CORE, Universit´e catholique de Louvain)

Abstract

We investigate how to extend bankruptcy rules to the more general setting in which agents' claims may refer to di erent issues. We consider two natural procedures and show that, among all bankruptcy rules, the proportional rule is the only one whose extensions according to the two procedures yield the same outcomes.

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File URL: http://www.upo.es/serv/bib/wps/econ0911.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 09.11.

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Length: 12 pages
Date of creation: Nov 2009
Date of revision:
Handle: RePEc:pab:wpaper:09.11

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Keywords: Multi-issue bankruptcy problems; proportional rule; characterization result.;

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  1. Moulin, Herve, 2001. "Axiomatic Cost and Surplis-Sharing," Working Papers 2001-06, Rice University, Department of Economics.
  2. Calleja, Pedro & Borm, Peter & Hendrickx, Ruud, 2005. "Multi-issue allocation situations," European Journal of Operational Research, Elsevier, vol. 164(3), pages 730-747, August.
  3. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
  4. Ju, Biung-Ghi & Miyagawa, Eiichi & Sakai, Toyotaka, 2007. "Non-manipulable division rules in claim problems and generalizations," Journal of Economic Theory, Elsevier, vol. 132(1), pages 1-26, January.
  5. Kaminski, Marek M., 2006. "Parametric rationing methods," Games and Economic Behavior, Elsevier, vol. 54(1), pages 115-133, January.
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Cited by:
  1. Jens Leth Hougaard & Juan D. Moreno-Ternero & Lars Peter Østerdal, 2010. "Baseline Rationing," Discussion Papers 10-16, University of Copenhagen. Department of Economics.
  2. Karagözoğlu Emin, 2010. "A Noncooperative Approach to Bankruptcy Problems with an Endogenous Estate," Research Memorandum 027, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  3. Hinojosa Ramos, Miguel Ángel & López Sánchez, Ana Dolores, 2011. "Regla de reparto proporcional con referencias múltiples: aplicación al caso de agregación y actualización de probabilidades || A Proportional Rule for the Division Problems with Multiple Reference," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 12(1), pages 65-80, December.
  4. Gustavo Bergantiños & Leticia Lorenzo & Silvia Lorenzo-Freire, 2011. "New characterizations of the constrained equal awards rule in multi-issue allocation situations," Computational Statistics, Springer, vol. 74(3), pages 311-325, December.
  5. M. Hinojosa & A. Mármol & F. Sánchez, 2012. "A consistent talmudic rule for division problems with multiple references," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 20(3), pages 661-678, October.
  6. Karagozoglu, Emin, 2008. "A Noncooperative Approach to Bankruptcy Problems with an Endogenous Estate," Research Memorandum 031, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

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