Characterization of solutions for bankruptcy problems
AbstractThis paper provides an analysis of solutions to bankruptcy problems from an axiomatic point of view. In particular, we provide characterizations of certain classes of solutions involving the properties of linearity, symmetry and efficiency. Furthermore, we show that there is a unique solution satisfying the previous axioms and inessentiality.
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Bibliographic InfoPaper provided by Department of Economics - dECON in its series Documentos de Trabajo (working papers) with number 1911.
Length: 13 pages
Date of creation: Aug 2011
Date of revision:
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Bankruptcy problems; axiomatic solutions.;
Find related papers by JEL classification:
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
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- Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
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- Nir Dagan, 1996.
"New Characterizations of Old Bankruptcy Rules,"
Economic theory and game theory
002, Nir Dagan.
- 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.
- He, Jia & Ng, Lilian K, 1994. "Economic Forces, Fundamental Variables, and Equity Returns," The Journal of Business, University of Chicago Press, vol. 67(4), pages 599-609, October.
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