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Non-manipulability by clones in bankruptcy problems

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  • Calleja, Pedro
  • Llerena, Francesc

Abstract

We introduce non-manipulability by clones for bankruptcy problems, which entitles claimants to merge or split only when they are or become identical agents. We show that this weaker non-manipulability requirement, together with either claim monotonicity or claims continuity, allows for new characterizations of the proportional rule on the general class of bankruptcy problems.

Suggested Citation

  • Calleja, Pedro & Llerena, Francesc, 2022. "Non-manipulability by clones in bankruptcy problems," Economics Letters, Elsevier, vol. 221(C).
    • Handle: RePEc:eee:ecolet:v:221:y:2022:i:c:s0165176522003950
    DOI: 10.1016/j.econlet.2022.110921
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    References listed on IDEAS

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    1. Chun, Youngsub, 1988. "The proportional solution for rights problems," Mathematical Social Sciences, Elsevier, vol. 15(3), pages 231-246, June.
    2. H. Peyton Young, 1987. "On Dividing an Amount According to Individual Claims or Liabilities," Mathematics of Operations Research, INFORMS, vol. 12(3), pages 398-414, August.
    3. Biung-Ghi Ju & Juan Moreno-Ternero, 2011. "Progressive and merging-proof taxation," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(1), pages 43-62, February.
    4. Ju, Biung-Ghi, 2013. "Coalitional manipulation on networks," Journal of Economic Theory, Elsevier, vol. 148(2), pages 627-662.
    5. Rick K. Acosta-Vega & Encarnaci'on Algaba & Joaqu'in S'anchez-Soriano, 2022. "On proportionality in multi-issue problems with crossed claims," Papers 2202.09877, arXiv.org.
    6. Biung-Ghi Ju, 2003. "Manipulation via merging and splitting in claims problems," Review of Economic Design, Springer;Society for Economic Design, vol. 8(2), pages 205-215, October.
    7. Juan D. Moreno-Ternero, 2006. "Proportionality And Non-Manipulability In Bankruptcy Problems," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 127-139.
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    Cited by:

    1. Pedro Calleja & Francesc Llerena, 2023. "Proportional clearing mechanisms in financial systems: an axiomatic approach," UB School of Economics Working Papers 2023/442, University of Barcelona School of Economics.
    2. Calleja, Pedro & Llerena, Francesc & Sudhölter, Peter, 2023. "Remarks on solidarity in bankruptcy problems when agents merge or split," Mathematical Social Sciences, Elsevier, vol. 125(C), pages 61-64.
    3. Sudhölter, Peter & Calleja, Pedro & Llerena, Francesc, 2023. "A note on solidarity in bankruptcy problems when agents merge or split," Discussion Papers on Economics 1/2023, University of Southern Denmark, Department of Economics.

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    More about this item

    Keywords

    Proportional rule; Manipulability; Bankruptcy problems;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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