Merging and Going Bankrupt: A Neutral Solution
AbstractAs it is known, there is no rule satisfying Additivity in the complete domain of bankruptcy problems. This paper proposes a notion of partial Additivity in this context, to be called m-additivity. We find that m-additivity, together with two quite compelling axioms, anonymity and continuity, identify the Minimal Overlap rule, introduced by Neill (1982).
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28339.
Date of creation: 20 Oct 2010
Date of revision:
Bankruptcy Problems; Additivity; Minimal Overlap Rule;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
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- Gustavo Bergantiños & Luciano Méndez-Naya, 2001. "Additivity in bankruptcy problems and in allocation problems," Spanish Economic Review, Springer, vol. 3(3), pages 223-229.
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RCER Working Papers
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- 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.
- Stefano Moretti & Fioravante Patrone, 2008. "Transversality of the Shapley value," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 16(1), pages 1-41, July.
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