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Bankruptcy and the Nash solution


  • Jacques A. Schnabel


The putative deficiency of the Nash solution to the bankruptcy game discussed in textbooks is shown to be a mere artefact of an unrealistic assumption made regarding the alternatives available to the bankrupt firm's creditors.

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  • Jacques A. Schnabel, 2007. "Bankruptcy and the Nash solution," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 3(4), pages 251-254.
  • Handle: RePEc:taf:apfelt:v:3:y:2007:i:4:p:251-254 DOI: 10.1080/17446540601018972

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    References listed on IDEAS

    1. Choudhry, Taufiq, 1997. "Stochastic Trends in Stock Prices: Evidence from Latin American Markets," Journal of Macroeconomics, Elsevier, vol. 19(2), pages 285-304, April.
    2. Chowdhury, Abdur R., 1994. "Stock market interdependencies: Evidence from the asian NIEs," Journal of Macroeconomics, Elsevier, vol. 16(4), pages 629-651.
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