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Bankruptcy games and the Ibn Ezra’s proposal

  • José Alcalde

    ()

  • María Marco

    ()

  • José Silva

This paper explores an old solution for bankruptcy problems, described by Ibn Ezra in the XII century. Particularly, we introduce a new way of extending the Ibn Ezra’s proposal, the Generalized Ibn Ezra solution, by imposing that the general distribution principle from which it is inspired remains fixed. In this context, we follow the interpretation of bankruptcy problems in terms of TU games given in O’Neill (1982), and propose the analysis of the Transition Game associated to bankruptcy problems to provide a characterization for the Generalized Ibn Ezra solution. Copyright Springer-Verlag Berlin/Heidelberg 2005

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File URL: http://hdl.handle.net/10.1007/s00199-004-0527-z
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Article provided by Springer in its journal Economic Theory.

Volume (Year): 26 (2005)
Issue (Month): 1 (07)
Pages: 103-114

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Handle: RePEc:spr:joecth:v:26:y:2005:i:1:p:103-114
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  1. Gustavo Bergantiños & Luciano Méndez-Naya, 2001. "Additivity in bankruptcy problems and in allocation problems," Spanish Economic Review, Springer, vol. 3(3), pages 223-229.
  2. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
  3. Moulin, Herve, 1994. "Serial Cost-Sharing of Excludable Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 61(2), pages 305-25, April.
  4. 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.
  5. Dutta, Bhaskar & Ray, Debraj, 1989. "A Concept of Egalitarianism under Participation Constraints," Econometrica, Econometric Society, vol. 57(3), pages 615-35, May.
  6. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
  7. Potters, J.A.M. & Poos, R. & Tijs, S.H. & Muto, S., 1989. "Clan games," Other publications TiSEM 1855e4e3-7392-4ef0-a073-8, Tilburg University, School of Economics and Management.
  8. Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September.
  9. Young, H. P., 1988. "Distributive justice in taxation," Journal of Economic Theory, Elsevier, vol. 44(2), pages 321-335, April.
  10. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  11. Carmen Herrero & Antonio Villar, 2002. "Sustainability in bankruptcy problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 10(2), pages 261-273, December.
  12. 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.
  13. Potters, Jos & Poos, Rene & Tijs, Stef & Muto, Shigeo, 1989. "Clan games," Games and Economic Behavior, Elsevier, vol. 1(3), pages 275-293, September.
  14. Chun, Youngsub, 1988. "The proportional solution for rights problems," Mathematical Social Sciences, Elsevier, vol. 15(3), pages 231-246, June.
  15. Moulin, Herve, 2001. "Axiomatic Cost and Surplis-Sharing," Working Papers 2001-06, Rice University, Department of Economics.
  16. Nir Dagan, 1996. "New characterizations of old bankruptcy rules," Social Choice and Welfare, Springer, vol. 13(1), pages 51-59, January.
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