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The Talmud Rule And The Securement Of Agents? Awards

Author Info

Listed author(s):
  • Juan de Dios Moreno Ternero

    ()

    (Yale University)

  • Antonio Villar Notario

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

This paper provides a new characterization of the Talmud rule by means of a new property, called securement. This property says that any agent holding a feasible claim will get at least one nht of her claim, where n is the number of agents involved. We show that securement together with a weak version of path independence and the standard properties of self-duality and consistency characterize the Talmud rule.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2003-05.pdf
File Function: Fisrt version / Primera version, 2003
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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2003-05.

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Length: 15 pages
Date of creation: Feb 2003
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:2003-05
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Keywords: bankruptcy problems; Talmud rule; characterization results;

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Find related papers by JEL classification:
  • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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  1. Moulin, Herve, 2002. "Axiomatic cost and surplus sharing," Handbook of Social Choice and Welfare,in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 6, pages 289-357 Elsevier.
  2. Nir Dagan, 1996. "New characterizations of old bankruptcy rules," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(1), pages 51-59, January.
  3. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  4. Juan Moreno-Ternero & Antonio Villar, 2006. "The TAL-Family of Rules for Bankruptcy Problems," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 27(2), pages 231-249, October.
  5. Thomson, W., 1996. "Consistent Allocation Rules," RCER Working Papers 418, University of Rochester - Center for Economic Research (RCER).
  6. 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.
  7. Young, H. P., 1988. "Distributive justice in taxation," Journal of Economic Theory, Elsevier, vol. 44(2), pages 321-335, April.
  8. 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.
  9. 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.
  10. Toru Hokari & William Thomson, 2003. "Claims problems and weighted generalizations of the Talmud rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(2), pages 241-261, 03.
  11. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
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